dear instructor, i hope this message find you well, this is a question in Advance Accounting about consolidating the financial statements of two companies, thank you for your help

Question 2 Parent company (P Co) acquired 70% interest in Subsidiary (S Co) when the share capital of S was $80,000 and its retained earnings was $30,000. At the date of acquisition, the book values of the assets of S Co were approximately equal to their fair values. The fair value of non-controlling interests as at the date of acquisition was $80,000. The current Statements of Financial Position for P Co and S Co are shown below. Statement of Financial Position P Co SCO Combined Parent Theory Combined Entity Theory Other assets 400,000 279,000 Investment in S Co Liabilities 200,000 (250.000) (101.000) Net assets 350,000 178,000 Share capital Retained earnings 200,000 150,000 80,000 98,000 Equity 350,000 178,000 Total Equity 350,000 178,000 Required Complete the combined financial statements under the "parent" theory and the "entity theory