On 1 May 20X7 Karl bought 60% of Susan paying $76,000 cash. The summarised statements of financial position for the two entities as at 30 November 20X7 are: Karl Susan S S Non-current assets Property, plant & equipment 138,000 115,000 Investments 98,000 Current assets Inventory Receivables Cash Share capital Retained earnings Non-current liabilities: 8% Loan notes Current liabilities 15,000 17,000 19,000 20,000 2,000 272,000 152,000 50,000 40,000 189,000 69,000 239,000 109,000 20,000 33,000 23,000 272,000 152,000 The following information is relevant: (6) The inventory of Karl includes $8,000 of goods purchased for cash from Susan at cost plus 25% (i) On 1 June 20X7 Karl transferred an item of plant to Susan for $15,000. Its carrying amount at that date was $10,000, and its remaining useful life was 5 years. (ii) Karl values the non-controlling interest using the fair value method. At the date of acquisition the fair value of the 40% non- controlling interest was $50,000 (iv) An impairment loss of $1,000 is to be charged against goodwill at the year-end. (V) Susan earned a profit of $9,000 in the year ended 30 November 20X7 (vii) The loan note in Susan's books represents monies borrowed from Karl on 30 November 20X7 (vii) Included in Karl's receivables is $4,000 relating to inventory sold to Susan during the year. Susan raised a cheque for $2,500 and sent it to Karl on 29 November 20X7. Karl did not receive this cheque until 4 December 20X7. Required: Prepare the consolidated statement of financial position as at 30 November 20X7.