Poplar buys 80% of the share capital of Salix for 55,000 on 30 Nov. 2018.

At that date, the fair value of the non- current assets in Salix, exceed the book value by 12,000. Prepare Statement of Financial Position at 30 November 2018:

	Poplar	Salix
PPE	70,000	37,000
Investment in S	55,000
Current assets	18,500	4,500
Total assets	143,500	41,500
Share capital	116,000	32,000
Retained earnings	19,000	8,000
	135,000	40,000
Non current liabilities	6,000	1,000
Current Liabilities	2,500	500
	143,500	41,500