H bought 90% of the equity share capital of S, two years ago on 1January 20X2 when the retained earnings of S stood at $5,000. Statements of financial position at the year end of 31 December 20X3 areas follows:

S transferred goods to H at a transfer price of $18,000 at a mark-up of 50%. Two-thirds remained in inventory at the year end. The current account in Hi and S stood at $22,000 on that day.

The H group uses the fair value method to value the non-controlling interest. The fair value of the non controlling interest at acquisition was $4,000.Prepare the consolidated statement of financial position at 31/12/X3.