Bill plc and Ben plc

Mid way through the current year on 1 March 20X1 Bill plc acquired 30% of Ben Plcs ordinary shares. The consideration was settled by share exchange of 4 new shares in Bill for every 3 shares acquired in Ben. The share price of Bill at the date of acquisition was 5. Bill has not yet recorded the acquisition of Ben in its books.

Bill plc and Ben plc Mid way through the current year on 1 March 20X1 Bill plc acquired 30% of Ben Plc's ordinary shares. The consideration was settled by share exchange of 4 new shares in Bill for every 3 shares acquired in Ben. The share price of Bill at the date of acquisition was 5. Bill has not yet recorded the acquisition of Ben in its books. The Statements of Financial Position of the two companies as at 30 November 20X1 are as follows: Bill Pic '000 Ben Plc '000 Non current assets Property Plant and equipment Investments 800 450 1,825 900 150 Current assets Inventory Receivables Cash 550 300 120 200 400 140 4,045 1,790 250 Share capital 1 Share premium Retained earnings 1,800 250 1,145 3,195 1,200 1,450 Current liabilities Trade payables Income tax 520 330 250 90 4,045 1,790 The following information is relevant: In September 20X1, Ben sold goods to Bill for 150,000. These goods had cost Ben 100,000. Bill had 90,000 (at cost to Bill) in inventory at the year-end. 2 An impairment review found the investment in the associate was to be impaired by 15,000 at the year-end. | Ben's profit after tax for the year is 600,000. Required: prepare the Consolidated Statement of Financial Position as at 30 November 20X1