On January 1, 20x1, Hello. acquired 80% interest in Hi, Inc. by issuing 5,000 shares with fair value of P30 per share and par value of P20 per share. The financial statements of Hello and Hi immediately after the acquisition are shown below:

Jan 1, 20x1

Hello Hi

Cash	20,000	10,000
Accounts receivable	60,000	24,000
Inventory	80,000	46,000
Investment in subsidiary	150,000
Equipment	400,000	100,000
Accumulated depreciation	(40,000)	(20,000)
Total assets	670,000	160,000

Accounts payable	40,000	12,000
Bonds payable	60,000	-
Share capital	340,000	100,000
Share premium	130,000	-
Retained earnings	100,000	48,000
Total liabilities and equity	670,000	160,000

On January 1, 20x1, the fair value of the assets and liabilities of Hi were determined by appraisal, as follows:

Hi	Carrying amounts	Fair values	Fair value increment
Cash	10,000	10,000	-
Accounts receivable	24,000	24,000	-
Inventory	46,000	62,000	16,000
Equipment	100,000	120,000	20,000
Accumulated depreciation	(20,000)	(24,000)	(4,000)
Accounts payable	(12,000)	(12,000)	-
Net assets	148,000	180,000	32,000

The equipment has a remaining useful life as of 4 years from January 1, 20x1.

Please prepare the consolidated statement of financial position as at January 1, 20x1. Hello elects to measure non-controlling interest as its proportionate share in Hi's net identifiable assets.