Step 7: Profit or loss attributable to owners of parent and NCIs Owners NCI in NCI Consoliof P S 1 in S 2 dated P's profit

before
P S 1 in S 2 dated P's profit before FVA(Step 6) 320,000 N/A N/A 320,000 Share in S1’s profit before FVA (c) 70,400 17,600 88,000 Share in
A (c) 70,400 17,600 88,000 Share in S2’s profit before FVA (d) - - - Depreciation of FVA ( - ) ( - ) ( - ) ( - ) Goodwill impairment (32,000) (8,000
odwill impairment (32,000) (8,000) - (40,000) Totals 358,400 9,600 - 368,000 (c) Shares in S1’s profit before FVA (Step 6): (₱88,000 x 80%
fore FVA (Step 6): (₱88,000 x 80%); (₱88,000 x 20%) (d) Shares in S2’s profit before FVA (Step 6): (₱0 x 48%); (₱0 x 52%) The cons olidated
8%); (₱0 x 52%) The cons olidated financial statements are prepared as follows: Consolidated statement of financial position As at Decem
t of financial position As at December 31, 20x 1 Other assets(800,000 + 480,000 + 320,000) 1,600,000 Goodwill (20,000 + 16,000) (Step 3)
oodwill (20,000 + 16,000) (Step 3) 36,000 Total assets 1,636,000 Liabilities (120,000 + 152,000 + 8,000) 280,000 Share capital (P only) 480
280,000 Share capital (P only) 480,000 Retained earnings (Step 5) 638,400 Owners of parent 1,118,400 Non-controlling interests (Step 4) 2
Non-controlling interests (Step 4) 237,600 Total equity 1,356,000 Total liabilities andequity