Question Three: 1).List at least two advantages for stakeholders from requiring groups to prepare consolidated accounts? (10 marks) 2).Rouge plc acquired 100% of the common shares of Noir plc on 1 Jan 20X0 and gained control. At that date the statements of financial position of the two companies were as follows: Rouge Smillion Noir Smillion 80 Assets Current Assets Non-current assets PPES Investment in Noir Total Assets 100 132 312 130 60 Liabilities and Equity Current Liabilities Ordinary shares Retained Earnings Total Liabilities and Equity Note: The fair values are the same as the book values. 200 52 312 130 Required: Prepare a consolidated statement of financial position for Rouge plc as at 1 January