A On 1 January 2014, Sons and Co Ltd had an issued share capital of 200,000 ordinary $£ 1$ shares. The balance of retained profits was $£ 20,000$ and there was also a general reserve of $£ 16,000$. During the year ended 31 December 2014, Sons and Co Ltd made a profit of $£ 24,000$, none of which was distributed. Pop Ltd bought 175,000 shares on 1 April 2014 for $£ 240,000$. Calculate the figure of goodwill to be shown in the consolidated statement of financial position as at 31 December 2014.