Ping Co acquired its investment in Pong Co on 1 July 2020 when the retained earnings of Pong Co stood at 6,000. The agreed consideration was 30,000 cash and a further 10,000 on 1 July 2022. Ping Co's cost of capital is 7%. Pong Co has an internally-developed brand name 'Pongo' which was valued at 5,000 at the date of acquisition. There have been no changes in the share capital or revaluation surplus of Pong Co since that date. At 30 June 2021 Pong Co had invoiced Ping Co for goods to the value of 2,000 and Ping Co had sent payment in full but this had not been received by Pong Co. There is no impairment of goodwill. It is group policy to value NCI at full fair value. At the acquisition date the NCI was valued at 9,000.

Required - Prepare the consolidated statement of financial position of Ping Co as at 30 June 2021.

Please look at the pictures attached as they are also a part of the question[[

Equity Ordinary shares of 1 each Revaluation surplus Retained earnings 45,00012,00026,00025,0005,00028,000 Current Liabilities Owed to pong 8,000 Trade payables 10,0007.000 Total equity and liabilities 101,000 65.000 The draft statements of financial position of Ping Co and Pong Co on 30 June 2021 were as follows. STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2021