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ASSIGNMENT TWO Summarized financial statements for three entities for the year ended 30 April 2020 are provided below: Statements of comprehensive income for the year ended 30 April 2020 Akosua GHS000 72,000 (49,800) Nyarko GHS000 50,400 (40,200) APPIAH GHS000 48,000 33,000 Revenue Operating costs Profit before tax Tax 22,200 7,200 10,200 (4,200) 15,000 6,000 9,000 Profit for the year Other comprehensive income 15,000 6,000 6,000 3,600 Total comprehensive income 21,000 9,600 9,000 Statement of financial position as at 30 April 2020 Akosua Nyarko APPIAH Non-current assets Property, plant & equipment 144,000 42,000 61,200 Investments In Nyarko 42,000 In APPIAH 13,800 39,000 199,800 135,000 102,000 Current assets 70,200 24,000 34,800 270,000 105,000 96,000 Equity Share capital (issued @ GHS1) 45,000 18,000 14,400 Income surplus 165,000 36,000 39,600 210,000 54,000 54,000 Liabilities 60,000 51,000 42,000 270,000 105,000 96,000 1) Akosua acquired 80% of the equity shares of Nyarko on 1 May 2018 paying GHS42million. The income surplus of Nyarko were GHS18 million at this time and the fair value of the NCI holding in Nyarko was GHS15 million. 2) Akosua acquired 25% of the equity shares of APPIAH on 1 may 2018 paying GHS13.8 million. 3) On 1 may 2019 Nyarko acquired 60% of APPIAH's equity shares paying GHS 39 million. At this date the income surplus of APPIAH were GHS 30.6 million. The fair value of Akosua's 25% holding in APPIAH was GHS 15 million and the fair value of the NCI holding (based on effective holdings) was GHS 16.2 million. 4) At 30 April 2020 it was determined that the goodwill arising on the acquisition of Nyarko had been impaired by GHS 3million. The goodwill arising on the acquisition of APPIAH remained unimpaired. Required: Prepare the consolidated statement of comprehensive income for the year ended 30th April 2020 and the consolidated statement of financial position at that date