Rouge plc acquired 100% of the common shares of Noir plc on 1 Januar y 20X0 and gained control. At that date the statements of financial position of the two companies were as follows:
| Rouge £ million | Noir £ million | |
| ASSETS | ||
| Non-cur rent assets | ||
| Property, plant and equipment | 100 | 60 |
| Investment in Noir | 132 | |
| Current assets | 80 | 70 |
| Total assets | 312 | 130 |
| EQUITY AND LIABILITIES | ||
| Ordinary y £1 shares | 200 | 60 |
| Retained earnings | 52 | 40 |
| 252 | 100 | |
| Current liabilities | 60 | 30 |
| Total equity and liabilities | 312 | 130 |
Note: The fair values are the same as the book values.
Required: Prepare a consolidated statement of financial position for Rouge plc as at 1 January 20X0.
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