Question 1: Statements of financial position at 31 December 2004 P $000 s $000 50 60 Non-current assets Investment in S at cost Current assets 50 40 40 150 90 Ordinary share capital ($1 shares) Retained earnings Current liabilities 100 30 20 40 10 40 150 90 - P acquired all the shares in Son 31 December 20X4 for a cost of $50,000. Prepare the consolidated statement of financial position at 31 December 20X4