On January $1,$ Year $5,$ FLA Company issued $6,300$ ordinary shares to purchase $9,000$ ordinary shares of MES Company. Prior to the acquisition, FLA had $180,000$ and MES had $10,000$ ordinary shares outstanding, which were trading at $$5$ and $$3$ per share, respectively. The following information has been assembled for these two companies just prior to the acquisition:

FLA Company MES Company

Carrying

Amount Fair Value Carrying

Amount Fair Value

Plant assets $ $60,000$ $ $70,000$ $ $20,000$ $ $25,000$

Current assets $40,00047,50010,00011,200$

$ $100,000$ $ $30,000$

Ordinary shares $ $30,000$ $ $10,000$

Retained earnings $35,00012,500$

Long$-$term debt $15,00019,0002,5003,200$

Current liabilities $20,00020,0005,0005,000$

$ $100,000$ $ $30,000$

$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Required:

$($a$)$ Prepare a consolidated statement of financial position for FLA Company and its non$$wholly owned subsidiary at January $1,$ Year $5,$ under each of the following:

$($i$)$ Identifiable net assets method

$($ii$)$ Fair value enterprise method

b$)$ This part of the question is not part of your Connect assignment.