Your brother paid about $5.90 for his shares in The Warehouse Group Limited. This indicates that the market value of The Warehouse Group Limited was close to $1.82 billion ($5.90 x 308.4 million shares). Explain why, including references to definitions and other guidance contained in the Framework for the Preparation and Presentation of Financial Statements, the reported equity in the Balance Sheet is significantly lower than $1.82 billion.
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