Q.No.1. Hazelnut acquired 80% of the share capital of Peppermint two years ago, when the reserves of Peppermint stood at $125,000. Hazelnut paid initial cash consideration of $1 million. Below are the statements of financial position of Hazelnut and Peppermint as of 31 December 20x4. Peppermint $000 Hazelnut S000 1,000 5,500 1,500 Investment in Peppermint at cost Property, plant & equipment Current assets Inventory Receivables Cash 550 100 200 400 200 50 7,650 1,850 500 Share capital Retained earnings 2,000 1,400 300 3,400 3,000 1,250 800 400 Non-current liabilities Current liabilities 650 7,650 1,850 During the year Hazelnut sold goods to Peppermint for $5,000 at a mark-up of 17.5%, by the end of the year the transaction remained unsettled, and Peppermint still had 15% of these goods in its inventory. At the date of acquisition, the fair value of the 20% non-controlling interest was $370,000. Required: Prepare the consolidated statement of financial position as of 31 December 20X4