Raja Limited, a leading public limited company engaged in the manufacture of pharmaceuticals, prepares its accounts as per Ind AS. The company has…

Raja Limited, a leading public limited company engaged in the manufacture of pharmaceuticals, prepares its accounts as per Ind AS. The company has entered into the following transactions during the financial year ended 31st March, 2025: (i) On 1st April, 2024, Raja Limited held 35% of total equity shares of Volga Limited, which is an associate company. The carrying value of the investment in Volga Limited on 31st March, 2024 is 1,50,00,000 in the consolidated financial statements of Raja Limited. During financial year 2024-2025, Raja Limited sold goods worth - 3,50,000 to Volga Limited. The cost of goods sold is 3,00,000. Out of these, goods costing - 1,00,000 to Volga Limited were lying unsold with it on 31st March, 2025. During the year ended 31st March, 2025, the Statement of Profit and Loss of Volga Limited showed a profit of 25,00,000. Volga Limited declared and paid a dividend of 10,00,000 to its equity shareholders during 2024-2025. (ii) Raja Limited held 50% of the voting power of Sharp Limited, which is a Joint Venture of Raja Limited. The carrying value as on 1st April, 2024 of the investment in Sharp Limited as per Equity Method is 50,00,000. On 1st July, 2024, out of the 50% stake, Raja Limited sold 20% stake in Sharp Limited to an unrelated entity for a consideration of 40,00,000. The fair value of the retained 30% interest is 60,00,000. (iii) On 1st August, 2024, Raja Limited acquired 70% Equity Shares of S Limited by paying a cash consideration of 97,50,000 (including control premium). The fair value of net identifiable assets of S Limited is 1,30,00,000. The fair value of 30% of the shares owned by the non-controlling shareholders on the date of acquisition is 25,00,000. The carrying amount of net identifiable assets of S Limited is 1,20,00,000. Raja Limited choses to measure the interest of non-controlling shareholders at fair value. On the basis of the information provided above, you are required to choose the most appropriate answer to the below mentioned questions 1 to 3 in line with the relevant Ind AS.