Question $3(20$ marks$)$ Case Study Question On January $1,20$X$5,$ Prime Ltd acquired all the shares in Core Ltd$.$ The individual statements of financial position as at December $31,20$X$5,$ are shown below: Statement of Financial Position $($as at $31$ December $20$X$5)$ Prime Ltd Core Ltd Assets $($P$)($P$)$ Property, Plant & Equipment $270,000180,000$ Intangible Assets $30,00020,000$ Non$-$Current Assets $300,000200,000$ Inventory $80,00030,000$ Trade Receivables $90,00040,000$ Bank $30,00010,000$ Current Assets $200,00080,000$ Total Assets $900,000280,000$ Equity and Liabilities Share Capital $400,000100,000$ Retained Earnings $($as at $1$ Jan $20$X$5)300,00060,000$ Retained Earnings $($movement during the year$)150,00040,000$ Total Retained Earnings $(31$ Dec $20$X$5)450,000100,000$ Total Equity $850,000200,000$ Trade Payables $40,00015,000$ Accrued Expenses $10,0005,000$ Current Liabilities $50,00020,000$ Total Equity and Liabilities $900,000280,000$ Required: a$.$ Prepare the$$consolidated statement of financial position$$for Prime Ltd and its wholly owned subsidiary Core Ltd as at December $31,20$X$5(15$ Marks$)$ b$.$ Briefly explain how$$intra$-$group balances$$and$$unrealised profits$$are treated when preparing consolidated financial statements $(5$ Marks$)$