Date is December 31, Year 3, Red Inc issued preferred shares with a fair value of $2,400,000 to acquire 45,000 (75%) of the common shares of Power Corp 

-the Power Corp shares were trading in the market at around $50 per share days prior to, and just after the purchase by Red Inc.

-Red Inc had to and was willing to pay a premium of $15 per share, (or $675,000 in total), to gain control of Power Corp

-The following shows the balance sheets for Red Inc and Power Corp just prior to acquisition (in 000s):

	Red Inc	Red Inc	Power Corp	Power Corp
	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Identifiable Assets	$5,000	$6,000	$2,400	$3,100
Goodwill	$0	?	$0	?
	$5,000		$2,400
Liabilities	$2,800	$4,000	$1,600	$1,750
Shareholder's Equity	$2,200	?	$800	?
	$5,000		$2,400

-financial statements of the two companies will be combined to make the Consolidated Financial Statements

-Red Inc management is concerned about the valuation of goodwill on the Consolidated Financial Statements

-Red Inc was willing to pay a premium of $675,000 to gain control of Power Corp. It states that it would have paid the same premium in total whether it acquired 75% or 100% of the shares of Power Corp.

Required:

-Using the identifiable net assets method what would the consolidated financial statement be?