Pure Company purchased 70% of the ordinary shares of Gold Company on January 1 , Year 6 , for $486,400 when the latter company's accumulated depreciation, ordinary shares, and retained earnings were $76,900,$500,000, and $43,000, respectively. Noncontrolling interest was valued at $198,000 by an independent business valuator at the date of acquisition. On this date, an appraisal of the assets of Gold disclosed the following differences: 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: Additional Information - Goodwill impairment tests have resulted in impairment losses totalling 60% of the goodwill at the date of acquisition. - On January 1 , Year 1 , Gold issued $400,000 of 81/2% 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 $220,000. - On July 1, Year 8, Gold sold a patent to Pure for $73,000. The patent had a carrying amount on Gold's books of $52,000 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.) Pure Company purchased 70% of the ordinary shares of Gold Company on January 1 , Year 6 , for $486,400 when the latter company's accumulated depreciation, ordinary shares, and retained earnings were $76,900,$500,000, and $43,000, respectively. Noncontrolling interest was valued at $198,000 by an independent business valuator at the date of acquisition. On this date, an appraisal of the assets of Gold disclosed the following differences: 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: Additional Information - Goodwill impairment tests have resulted in impairment losses totalling 60% of the goodwill at the date of acquisition. - On January 1 , Year 1 , Gold issued $400,000 of 81/2% 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 $220,000. - On July 1, Year 8, Gold sold a patent to Pure for $73,000. The patent had a carrying amount on Gold's books of $52,000 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.)