N acquired 75% of shares in E on January 1, 2017 when E had retained earnings of $15,000. The market price of Es shares at the date of acquisition was $1.60. N Values non-controlling interest at fair value at the acquisition date.

	N		E
PP&E	$ 50,000.00		$ 40,000.00
Shares in E	$ 70,000.00		$ -
	$ 120,000.00	$ -	$ 40,000.00
Current Assets	$ 52,000.00		$ 35,000.00
Total Assets	$ 172,000.00		$ 75,000.00
Share Capitsl $1 per share	$ 100,000.00		$ 50,000.00
Retained earnings	$ 67,000.00		$ 22,000.00
	$ 167,000.00		$ 72,000.00
Current Liabilities	$ 5,000.00		$ 3,000.00
Total equity and liabilities	$ 172,000.00		$ 75,000.00

Q. Prepare the consolidated statement of Financial Position of the N Group