$\backslash$table$[[$Profit for the year,$60650,2600030$ MARKS

On $1$ January $2021,$ Peacetalk Ltd acquired $75\%$ of Sail Ltd for $N$$$150000.$ The following financial statements of these two companies were presented to you:

STATEMENT OF FINANCIAL POSITION ON $31$ DECEMBER $2023$

$\backslash$table$[[$ASSETS$,$PEACETALK N$$,$SAIL$],[$Non$-$current assets,$1062700,227250],[$Property$,$ plant and equipment,$106270089716500,227250],[$Investment in Sail Ltd$,165000,-],[$Current assets,$294700,81000],[$Inventory$,14000,11000],[$Trade$-$ and other debtors,$69800,70000],[$Bank$,210900,-],[$TOTAL ASSETS,$1357400,308250],[$EQUITY AND LIABILITIES,,$],[$Equity$,1098900,247000],[$Share capital $($N$$1$ shares$),1000000,200000],[$Mark$-$to$-$market reserve,$15000,],[$Retained earnings,$50900,35000],[$General reserve,$33000,12000],[$Non$-$current liabilities,$178500,6000-$