Solve a consolidated statement of financial position at the date of acquisition under each of the following: 

(I) Identifiable net assets method 

(ii) Fair value enterprise method

 (c) Calculate the current ratio and debt-to-equity ratio for P Company under the identifiable net assets (INA) method and the fair value enterprise (FVE) method.

On December 31, Year 1, P Company purchased 80% of the outstanding shares of S Company for $12,900 cash. The statements of financial position of the two companies immediately after the acquisition transaction appear below. Plant and equipment (net) Investment in S Company Inventory Accounts receivable Cash Ordinary shares Retained earnings Long-term liabilities. Other current liabilities Accounts payable P Company Carrying Amount $ 9,000 12,900 6,060 4,950 3,300 $36,210 $11,400 17,710 3,500 2,100 1,500 $36,210 S Company Carrying Amount $ 7,200 4,800 2,700 1,950 $ 16,650 $ 3,900 5,550 2,900 2,700 1,600 $16,650 Fair Value $ 10,500 5,200 2,700 1,950 2,900 2,700 1,600