Question 4 Hilton Co acquired 80% of the share capital of Shrew Co on 1 January 20X3 for $280,000. The statements of financial position of the two companies at 31 December 20X3 were as follows: STATEMENTS OF FINANCIAL POSITION Hilton Co $ 660,000 280,000 Shrew Co $ 290,000 Sundry assets Investment in Shrew 940,000 290,000 Issued share capital 400,000 140,000 Share premium account 320,000 50,000 Retained earnings As at 1 Jan 20X3 140,000 60,000 Profit for 20X3 80,000 40,000 940,000 290,000 There have been no changes in the share capital or share premium account of either company since 1 January 20X3. The fair value of the non-controlling interest on acquisition was $65,000. Required a) What figure for goodwill on consolidation should appear in the consolidated statement of financial position of the Hilton group at 31 December 20X3? b) What figure for non-controlling interest should appear in the consolidated statement of financial position of the Hilton group at 31 December 20X3