Summarized Statements of Financial Position as at 31 May 2014 Pam Sam GHe'000 GHe'000 Non-Current Assets Tangibles Investments Current Assets Inventory Receivables Bank Share Capital Retained Earnings Current liabilities 10,000 6,000 6,000 6,000 1,000 5,000 6,000 1,000 2,000 28,000 15,000 12,000 4,000 13,000 8,000 3,000 3,000 28,000 15,000 The following information is relevant: 1. Pam acquired 60% of the shares in Sam for GHe5m four years ago when Sam's reserves show a balance of GHelm. At this date Sam's tangibles had a market value of GH3m and a book value of GHe2.5m. These tangibles had a remaining life of 10 years at date of acquisition. 2. Pam owed Sam GHe1.5m in respect of group trading that had occurred during the year. This balance is reflected in both companies' statement of financial position. 3. Pam has a policy of valuing non-controlling interests at fair value at the date of acquisition. For this purpose the share price of Sam at this date should be used. The market price of each Sam share was GH2 4. Goodwill on acquisition has been impaired by a total of GH$425,000. 5. During the year Sam sold GHelm goods to Pam at a mark-up of 25% on cost. Three quarters of these goods had been sold by Pam by the year end. Required: Prepare the Consolidated Statement of Financial Position as at 31 May 2014