Pure Company purchased 70% of the ordinary shares of Gold Company on January 1, Year 6, for $486,200 when the latter companys accumulated depreciation, ordinary shares, and retained earnings were $76,700, $500,000 and $42,700, respectively. Noncontrolling interest was valued at $200,000 by an independent business valuator at the date of acquisition. On this date, an appraisal of the assets of Gold disclosed the following differences:

	Carrying amount			Fair value
Land	$	169,000		$	226,000
Plant and equipment		716,000			792,000
Inventory		146,000			134,000

The plant and equipment had an estimated life of 20 years on this date.

The statements of financial position of Pure and Gold, prepared on December 31, Year 11, follow:

	Pure					Gold
Land	$	114,000			$	169,000
Plant and equipment		642,000				962,000
Less accumulated depreciation		(174,000	)			(203,000	)
Patent (net of amortization)		40,500
Investment in Gold Co. shares (cost method)		486,200
Investment in Gold Co. bonds		227,000
Inventory		234,000				190,000
Accounts receivable		233,150				180,000
Cash		50,670				60,100
	$	1,853,520			$	1,358,100
Ordinary shares	$	750,000			$	500,000
Retained earnings		1,045,790				367,100
Bonds payable (due Year 20)						382,000
Accounts payable		57,730				109,000
	$	1,853,520			$	1,358,100

Additional Information

Goodwill impairment tests have resulted in impairment losses totalling $13,500 of the goodwill at the date of acquisition.

On January 1, Year 1, Gold issued $400,000 of 8% bonds at 90, maturing in 20 years (on December 31, Year 20).

On January 1, Year 11, Pure acquired $200,000 of Golds bonds on the open market at a cost of $230,000.

On July 1, Year 8, Gold sold a patent to Pure for $72,000. The patent had a carrying amount on Golds books of $51,000 on this date and an estimated remaining life of seven years.

Pure uses tax allocation (40% rate) and allocates bond gains between affiliates when it consolidates Gold.

Pure uses the cost method to account for its investment in Gold Company and the straight-line method to account for the amortization of bond premiums and discounts.

Required:

Prepare a consolidated statement of financial position as at December 31, Year 11. (Amounts to be deducted should be indicated with a minus sign. Do not round your intermediate calculations. Round your final answers to nearest whole dollar.)