he balance sheets of Krizner$$s Inc. and Markson$$s Ltd$.$ at $31$ December $2020,$ the accounting date for both companies, were as follows:

$4.-$ACR$\_$MG$1.$png

On $31$ December $2020,$ Krizner$$s Inc. purchased $100\%$ shares of Markson$$s Ltd$.$ The purchase consideration was satisfied by the issuance of $6$ new equity shares of Krizner$$s Inc. for every $5$ equity shares purchased in Markson$$s Ltd$.$

At $31$ December $2020,$ the market value of a Krizner$$s Inc. share was $2\mathrm{.}30$ and the market value of a Markson$$s Ltd$.$ share was $2\mathrm{.}40.$

Further relevant details regarding Markson$$s Ltd$.$s accounts at $31$ December $2020$ were as follows:

The fixed assets had a fair value of $43\mathrm{.}5$m$.$

The inventories had a fair value of $9\mathrm{.}5$m$.$

The debentures had a market value of $12$m$.$

Other net assets had a fair value that was the same as their book value.

Note that the effect of the acquisition was not reflected in Krizner$$s Inc.$$s

Required:

Prepare the consolidated balance sheet of Krizner$$s Inc. on the acquisition date. Please explain and justify all steps you have taken to prepare the statement and provide details of any assumptions you have made.