Requirement: Prepare a draft of the December 31, 20x1 consolidated statements of financial position and consolidated statement of 311 Consolidated Financial Statements (Part 3) Dull Co. 80,000 (30,000) 50,000 Bright Co. 300,000 (60,000) 240,000 Revenues Operating expenses Profit for the year Additional information: No dividends were declared by either entity during 20x1 and there were no inter-company transactions. However, it was determined by year-end that goodwill was impaired by P10,000 profit or loss. midstions: Requirement: Prepare a draft of the December 31, 20x1 consolidated statements of financial position and consolidated statement of 311 Consolidated Financial Statements (Part 3) Dull Co. 80,000 (30,000) 50,000 Bright Co. 300,000 (60,000) 240,000 Revenues Operating expenses Profit for the year Additional information: No dividends were declared by either entity during 20x1 and there were no inter-company transactions. However, it was determined by year-end that goodwill was impaired by P10,000 profit or loss. midstions