Pure Company purchased 70% of the ordinary shares of Gold Company on January 1, Year 6, for $488,900 when the latter company's accumulated depreciation, ordinary shares, and retained earnings were $79,100, $500,000 and $45,200, respectively. Non-controlling interest was valued at $203,900 by an independent business valuator at the date of acquisition. On this date, an appraisal of the assets of Gold disclosed the following differences: Land Plant and equipment Inventory Carrying amount $ 190,000 739.000 181,000 Fair value $ 262,000 815,000 163,000 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: Gold $ 190,000 987,000 (182,000) Land Plant and equipment Less accumulated depreciation Patent (net of amortization) Investment in Gold Co. shares (equity method) Investment in Gold Co. bonds Inventory Accounts receivable Cash Pure $ 137,000 662,000 (163,000) 51,500 675,884 227,000 245,000 256,150 61,670 $2,153,204 $ 750,000 1,343,524 Ordinary shares Retained earnings Bonds payable (due Year 20) Accounts payable 199,000 206,000 63,400 $1,463,400 $ 500,000 365,900 477,500 120,000 $1,463,400 59,680 $2,153,204 Additional Information Goodwill impairment tests have resulted in impairment losses totalling $20,000. On January 1, Year 1, Gold issued $500,000 of 8772% bonds at 90, maturing in 20 years on December 31, Year 20). On January 1, Year 11, Pure acquired $200,000 of Gold's bonds on the open market at a cost of $230,000. . On July 1, Year 8, Gold sold a patent to Pure for $83,000. The patent had a carrying amount on Gold's books of $62,000 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 equity 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.) Pure Company Consolidated Statement of Financial Position December 31, Year 11 Total assets Total liabilities and shareholders' equity