On December 31, Year 1, P Company purchased 80% of the outstanding shares of S Company for $8,480 cash. The statements of financial position of the two companies immediately after the acquisition transaction appear below. P Company S Company Carrying Amount Carrying Fair Amount Value Plant and 10,000 $9,000 $7,600 equipment (net) Investment in S 8,480 Company Inventory 7,060 5,700 6,200 Accounts 6,950 3,700 3,700 receivable Cash 5,300 2,950 2,950 37,790 $21,350 Ordinary shares 12,400 $4,900 Retained earnings 17,290 6,250 Long-term 4,400 3,900 3,900 liabilities Other current 1,900 3,700 3,700 liabilities Accounts payable 1,800 2,600 2,600 37,790 $21,350 Required: (a) Calculate consolidated goodwill at the date of acquisition under the proportionate consolidation method. Consolidated goodwill $ (b) Prepare a consolidated statement of financial position in order of liquidity i.e starting with cash at the date of acquisition under each of the following: (i) Identifiable net assets method (ii) Fair value enterprise method (c) Calculate the current ratio and debt-to- equity ratio for P Company under the identifiable net assets (INA) method and the fair value enterprise (FVE) method. (Round "Current ratio" answers to 2 decimal places and "Debt to equity ratio" answers to 4 decimal places.) Current ratio Debt to equity ratio INAFVE