On December 31, Year 1,P Company purchased 90% of the outstanding shares of Company for $8,100 cash. The statements of financial position of the two companies immediately after the acquisition transaction appear below. 5 Company Carrying Amount 7,200 Fair Value 6,200 Plant and equipment (net) Investment in S Company Inventory Accounts receivable Cash P Company Carrying Amount 8,800 8,100 5,860 4,550 2,900 30,210 11,200 12,310 3,500 1,900 1,300 30,210 4,800 2,500 1,750 Ordinary shares Retained earnings Long-term liabilities Other current liabilities Accounts payable 4,600 2,500 1,750 16,050 3,700 5,750 2,700 2,500 1,400 16,050 2,700 2,500 1,400 Required Prepare a consolidated statement of financial position under the indentifiable net assets 1