Pure Company purchased 70% of the ordinary shares of Gold Company on January 1, Year 6, for $486,800 when the latter companys accumulated depreciation, ordinary shares, and retained earnings were $77,200, $500,000 and $43,400, respectively. Noncontrolling interest was valued at $199,200 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	$	173,000		$	231,000
Plant and equipment		721,000			794,000
Inventory		153,000			141,000

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	$	119,000			$	173,000
Plant and equipment		645,000				966,000
Less accumulated depreciation		(172,000	)			(200,000	)
Patent (net of amortization)		42,500
Investment in Gold Co. shares (cost method)		486,800
Investment in Gold Co. bonds		227,000
Inventory		236,000				191,500
Accounts receivable		237,150				184,000
Cash		52,670				60,700
	$	1,874,120			$	1,375,200
Ordinary shares	$	750,000			$	500,000
Retained earnings		1,065,940				382,200
Bonds payable (due Year 20)						382,000
Accounts payable		58,180				111,000
	$	1,874,120			$	1,375,200

Additional Information

Goodwill impairment tests have resulted in impairment losses totalling $14,160 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 $74,000. The patent had a carrying amount on Golds books of $53,000 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.)