Given below are the Statements of Financial Position of Pretoria (P) and Sasolburg (S) as at 30 June20X8 P S $000 $000 Non Current Assets Land 8,500 11,500 Plant Equipment 6,400 4,750 Investments 12,000 26,900 16,250 Current Assets Inventory 5,200 1,100 Receivables 4,400 2,000 Bank 1,600 1,000 11,200 4,100 38,100 20,350 Ordinary share capital 50c 17,000 14,000 Retained Earnings 11,300 4,150 28,300 18,150 Non current Liabilities 12 loan stock 6,000 550 Current liabilities 3,800 1,650 38,100 20,350 P acquired 21,000 shares of S on 1 July 20X5 when the balance on Ss retained earnings was $3,000 P paid $ 10,000 cash for the investment in the share capital of S and issued four 50c shares for every seven shares acquired in S and agreed to pay a further $2,700 in 3years time The market value of Ps shares at 1 July 20X5 was $1 and the market value of Ss shares was 65c P has only recorded the cash paid in respect of the investment in S The current interest rates are 10 Unless stated otherwise, all figures are in thousands Further information At acquisition the fair values of Sasolburg plant exceeded its book value by $2,5m The plant had a remaining life of five years at this date In addition, it was determined that Ss land had a fair value of $ 12,000 Sasolburg transferred goods to Pretoria at a price of $ 5,000 at a margin of 25 Three quarters of these goods remained in inventory at the year end On 1 July 20X6, Pretoria transferred an item of plant to Sasolburg for $ 2 4m Its carrying amount at that date was 2m and had a remaining useful economic life of 5years The Pretoria group values the non controlling interest using the fair value method At the date of acquisition, the fair value of the NCI was $ 55,000 An impairment loss of $ 1,029 is to be charged against goodwill at the year end The loan note in Ss books represents monies borrowed from P on 30 June 20X8 Included in Ps receivables is $2m relating to inventory sold to S during the year S raised a cheque for $1 5 and sent it to P on 28thJune 20X8 P had not received this cheque by the year end Required Prepare the consolidated Statement of Financial Position as at 30 June 20X8 (show all your workings)

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Given below are the Statements of Financial Position of Pretoria (P) and Sasolburg (S) as at 30 June20X8. P S $000 $000 Non- Current Assets

Given below are the Statements of Financial Position of Pretoria (P) and Sasolburg (S) as at 30 June20X8.

	P	S
	$000	$000
Non- Current Assets
Land	8,500	11,500
Plant & Equipment	6,400	4,750
Investments	12,000
	26,900	16,250
Current Assets
Inventory	5,200	1,100
Receivables	4,400	2,000
Bank	1,600	1,000
	11,200	4,100
	38,100	20,350

Ordinary share capital 50c	17,000	14,000
Retained Earnings	11,300	4,150
	28,300	18,150
Non- current Liabilities
12% loan stock	6,000	550
Current liabilities	3,800	1,650
	38,100	20,350

P acquired 21,000 shares of S on 1 July 20X5 when the balance on Ss retained earnings was $3,000. P paid $ 10,000 cash for the investment in the share capital of S and issued four 50c shares for every seven shares acquired in S and agreed to pay a further $2,700 in 3years time. The market value of Ps shares at 1 July 20X5 was $1 and the market value of Ss shares was 65c. P has only recorded the cash paid in respect of the investment in S. The current interest rates are 10%.

Unless stated otherwise, all figures are in thousands

Further information:

At acquisition the fair values of Sasolburg plant exceeded its book value by $2,5m. The plant had a remaining life of five years at this date. In addition, it was determined that Ss land had a fair value of $ 12,000.
Sasolburg transferred goods to Pretoria at a price of $ 5,000 at a margin of 25%. Three quarters of these goods remained in inventory at the year-end.
On 1 July 20X6, Pretoria transferred an item of plant to Sasolburg for $ 2.4m. Its carrying amount at that date was 2m and had a remaining useful economic life of 5years.
The Pretoria group values the non-controlling interest using the fair value method. At the date of acquisition, the fair value of the NCI was $ 55,000.
An impairment loss of $ 1,029 is to be charged against goodwill at the year-end.
The loan note in Ss books represents monies borrowed from P on 30 June 20X8.
Included in Ps receivables is $2m relating to inventory sold to S during the year. S raised a cheque for $1.5 and sent it to P on 28thJune 20X8. P had not received this cheque by the year-end.

Required:

Prepare the consolidated Statement of Financial Position as at 30 June 20X8

(show all your workings).