Question $2(35$ marks$)$

The following represent the condensed statements of financial position of P Ltd and S

Ltd at $1$ January $2024$:

P Ltd S Ltd

ASSETS

Property, plant and equipment $103200157300$

Unsecured loan to P Ltd $-20000$

Investment in S Ltd

$40000$ ordinary shares at fair value $($cost price: R$180000)180000-$

Current assets $4400015500$

$327200192800$

EQUITY AND LIABILITIES

Share capital $$ ordinary shares $(100000/50000$ shares$)200000100000$

Revaluation of land and buildings $-50000$

Retained earnings $9570040000$

Long$-$term borrowing from S Ltd $20000$

Current liabilities $115002800$

$327200192800$

Required

$2\mathrm{.}1$ Calculate percentage interest is S Ltd

$2\mathrm{.}2$ Pro$-$forma consolidated journal entry

$2\mathrm{.}3$ Draft the consolidated statement of financial position of the P Ltd Group as at $1$ January

$2024$ in compliance with the requirements of International Financial Reporting Standards