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Need the financial statement of this consilated account Question 2: The following statements of financial position were extracted from the books of two companies as

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Need the financial statement of this consilated account

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Question 2: The following statements of financial position were extracted from the books of two companies as at December 31, 2012 Drummond Clarke $ Non-Current assets: Property, Plant & Equipment 150,000 22000 Investments: Shares In Clive 54.000 204,000 Current Assets 428000 66.000 632,000 88,000 Equity: Share Capital 160,000 8,000 Share Premium 40,000 12,000 Retained Earnings 80.000 18,000 280.000 38.000 Current Liabilities 352,000 50,000 632.000 88.000 Drummond acquired all the share capital of Clarke one year ago. The retained earnings of Clarke stood at $4000 on the day of acquisition. Goodwill is calculated using the proportion of net asset method. There has been no impairment of Goodwill since acquisition. Required: Prepare the consolidated statement of financial position of Drummond as at December 31, 2012

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