P Ltd gained control of S Ltd by acquiring all its share capital on 1 Jan 2010. The FV of the consideration paid was measured at $114,000. The statement of financial position of S Ltd at that date showed:

P LTD Consolidated Statement of Comprehensive Income for financial year ended 31 Dee 2012 Sales Q] Cost of inventory sold Q2 Expenses Q3 Gain { Profit before tax xxx Income tax expense 95 Prot for the period xxx Other comprehensive income: Gain on plant revaluation Q Total comprehensive income for the year xxx P LTD Consolidated Statement of Changes in Equity i'or nancial year ended 31 Dee 2012 Assets Revaluation Share Capital Reserve RE Total Balance on I Jan 20I2 xxx QT 08 xxx Total comprehensive income xxx 10 xxx Balanceon31Dec20l2 xxx xxx xxx 11 P LTD Consolidated Statement of Financial Position]: at 31 Dec 2012 Equity and Liability Equity Share capital Assets Revaluation Reserve Retained earnings Total equity Non-current liabilities Tax liabilities Other liabilities Total non-current liabilities Total equity and liabilities Assets Non-can'ent assets Land Plant and Machinery Accumulated depreciation Shares in S Ltd Goodwill Total non-current assets Current assets Inventory Total current assets Total assets QIZ 013 Q\" Q15 916 Q]? 018 019 920 Worksheet for the year ended 31 Dec 2012 P S Sales Dr 650.000 Cr 71.000 Consolidated COGS 30.000 Expense 200 000 26,000 Gain Profit before lax 15.000 Income lix expense 204000 5.000 Profit for the year 80.000 10,000 Retained earnings (1/1/12) 103,000 40.000 Retained earnings (31/12/12) 183 000 Share capital 445.000 Asset revaluation reserve ( 1/1/12) 15.000 201000 Gains on plant revaluation 15,000 Asset revaluation reserve (31/12/12) 4,000 30 000 24.000 Total equity 658-000 134,000 Tax liability 10 000 1.000 Other liabilities 32.000 3.000 Total liabilities 12 000 4.000 Total liability and equity 70 0 000 138,000 Land 20.000 Plant and machinery 591.000 120,000 Accumulated depreciation 20.000) (25.000) Inventory 15000 23.000 Shares in S Lid 1 14000 Total assets 700 000 138.000Share capital $60,000 Land $20,000 RE 40,000 Plant and machinery 120,000 Asset revaluation reserve 20,000 Tax liability Accumulated depreciation (20,000) 15,000 Inventory 15,000 135,000 135,000 At 1 Jan 2010, the recorded amounts of S Ltd's assets and liabilities were equal to their fair values except as follows: Carrying amount FV Inventory $15,000 $18,000 Plant and machinery 100,000 102,000Prot before tax Income tax expense Prot for the year Retained earnings ( UUIZ) Retained earnings {31f12f12) Share capital Asset revaluation reserve ( \"1112) Gains on plant revaluation Asset revaluation reserve {3 I! 1312) Total equity Tax liability Other liabilities Total liabilities Total liability and equity Land Plant and machinery Accumulated depreciation Inventory Shares in 5 Ltd Total assets