Prepare the consolidated financial statements, given the following information:

1 On January 20X4 Portus purchased a 80% holding in Sanus for $15,000 in cash. All reserve is post-acquisition.

2 The non-controlling interest in Sanus is to be valued at its fair value of $3,500 at the date of acquisition.

	Portus	Sanus	Consolidation
	$'000	$'000
Non-current assets
Property, plant and equipment	44,000	16,000
Investment in Sanus (at cost)	15,000	–
Loan stock in relation to the subsidiary	3,500
Goodwill
	62,500	16,000
Current assets
Inventories	1,000	6,000
Trade receivables in subsidiary	300
Trade receivables	3,300	1,100
Cash	1,400	600
	6,000	7,700
	68,500	23,700
Equity
Share capital ($1 shares)	10,000	13,600
Reserves	49,000	2,000
	59,000	14,400
Non-controlling interest
Non-current liabilities
Loan stock		2,000
Long-term borrowings	6,500	4,800
Current liabilities
Trade and other payables: parent		300
Trade and other payables	3,000	1,000
	68,500	23,700

Goodwill

Consideration transferred

Non-controlling interest

Fair value of identifiable net assets at acquisition

Reserve

Parent company

Group share of reserve

Non-controlling interest

Non-controlling interest at acquisition

Non-controlling interest share of reserve