Given below are the statements of financial position of Pumpkin and Sugarcane as at 30 November 20X8: Pumpkin Sugarcane $000 $000 Non- Current assets Property , Plant & Equipment 31,000 13,500 Investment in Sugarcane 20,000 51,000 13,500 Current assets Inventory 2,050 5,000 Receivables 1,300 4,000 Cash 500 1,600 3,850 10,600 Total Assets 54,850 24,100 Equity Share capital 29,000 11,000 Share premium 2,200 Retained earnings 7,400 8,550 38,600 19,550 Non-current liabilities 12,000 2,600 Current liabilities 4,250 1,950 54,850 24,100 Additional Information 1) Pumpkin acquired 70% of the share capital of Sugarcane 3 years ago, when the retained Earnings of Sugarcane stood at $ 5m. Pumpkin paid initial cash consideration of $ 20m.

In addition, Pumpkin issued three shares for every five shares received in Sugarcane and promised to pay a further $1,500,000 in three years’ time. The market value of Pumpkin’s shares was $1.80. Current interest rates are 10% pa. The appropriate discount factor for $ 1 receivable three years from now is 0.751. 2) At acquisition, the fair values of Sugarcane’s plant exceeded its book value by $1,500,000. The plant had a remaining useful life of five years at this date. 3) The consolidated good will has been impaired by $ 750,500 4) Sugarcane has an internally generated brand, which has never been recognized in its statement of financial position. Management of Pumpkin with the help of some experts decided to value this brand at $ 2,400,000, with a remaining useful life of 8 years. 5) The Pumpkin Group values the non-controlling interest using the fair value method. At the date of acquisition, the fair value of the 30% non-controlling interest was $ 1.8m. 

Required: Prepare the consolidated statement of financial position as at 30 November 20X8.