P Ltd acquired 60% of the shares in S Ltd on 1st January, 2008 when S Ltd had retained earnings of Shs 18,000,000. The market price of S's shares just before the date of acquisition was Shs 1,600. P values the non controlling interest at fair value. Good will is not impaired. The statements of financial position of P Ltd and S Ltd as at 31st December, 2008 were as follows P Ltd S Ltd Property, plant and equipment Shares in S Ltd Total Current assets Total assets Share capital @ Shs 1,200 Retained earnings Total Current liabilities Total Capital and liabilities 72,000 81,600 153,600 62,400 216,000 120,000 84,000 204,000 12,000 216,000 Required Prepare the consolidated statement of financial position of P group 60,000 60,000 42,000 102,000 60,000 30,000 90,000 12,000 102,000