The following information represents the abridged financial statements of Mega Ltd and its subsidiary Ultra Ltd: Statement of financial position as at 31 December 2018           Mega Ltd Ultra Ltd ASSETS             Property, plant and equipment          270 000        340 000 Investment in Ultra Ltd: 48 000 shares at fair value        350 000                    -   (cost: N$ 330 000)           Trade receivables                 80 000           23 500 Inventories              350 000        218 000 Bank                   65 000                    -                 Total assets           1 115 000        581 500               EQUITY AND LIABILITIES         Share capital              400 000        240 000 Mark-to-market reserve               20 000           10 000 Retained earnings              375 000        240 000 Long-term borrowings               43 000           21 000 Trade and other payables            277 000           23 500 Bank overdraft                          -             47 000               Total equity and liabilities         1 115 000        581 500   Statement of profit or loss and other comprehensive income for the year ended 31 December 2018           Mega Ltd Ultra Ltd Revenue                      927 000          1 628 000 Cost of sales                   -472 000            -725 000 Gross profit                    455 000             903 000 Other expenses                   -287 100            -472 000 Dividend received from Ultra Ltd                   94 000                         -                 Profit before tax                    261 900             431 000 Income tax expense                   -198 000            -128 000 Profit for the year                       63 900             303 000               Other comprehensive income         Items that will not be reclassified to profit or loss     Mark-to-market reserve                       4 000                  1 000               TOTAL COMPREHENSIVE INCOME FOR THE YEAR                 67 900             304 000   Extract from the Statement of changes in equity for the year ended 31 December 2018     Mark-to-market reserve Retained earnings   Mega Ltd Ultra Ltd Mega Ltd Ultra Ltd Balance at 1 Jan 2018          15 000               8 000              215 000             170 000 Changes in equity for 2018         Total comprehensive income for the year:         Profit for the year                     63 900             303 000 Other comprehensive income for the year            4 000               1 000     Dividends                 -108 000            -120 000           Balance at 31 December 2018          19 000               9 000              170 900 353 000 Additional information: On 1 January 2018, the date on which Ultra Ltd acquired the interest in Mega Ltd, the equity of Mega Ltd consisted of: Share capital                                      N$ 260 000 Mark-to-market reserve                 N$ 3 000 Revaluation reserve                         N$ 7 000 Retained earnings                            N$ 135 000 Ultra Ltd elected to measure non-controlling interests at fair value at the acquisition date