The following financial statements were prepared on December $31,$ Year $6.$

$\backslash$table$[[$BALANCE SHEET,Pearl,Silver$],[],[$Cash$,$$ $590,000,$$ $390,000],[$Accounts receivable,$490,000,],[$Inventory$,3,450,000,710,000],[$Plant and equipment,$4,450,000,5,590,000],[$Accumulated depreciation,$(1,040,000),(600,000)],[$Investment in Silver Company $($at cost$),5,300,000,],[,$$$13,240,000,$$$6,090,000],[$Liabilities$,$$ $397,000,$$$1,083,000],[$Common shares,$5,750,000,3,050,000],[$Retained earnings,$7,093,000,1,957,000],[,$$$13,240,000,=$$$6,090,000]]$

Additional Information

Pearl purchased $80\%$ of the outstanding voting shares of Silver for $$5,300,000$ on July $1,$ Year $2,$ at which time Silver's retained earnings were $$545,000,$ and accumulated depreciation was $$89,000.$ The acquisition differential on this date was allocated as follows:

$20\%$ to undervalued inventory

$30\%$ to equipment$-$remaining useful life $8$ years

Balance to goodwill

$20\%$ to undervalued inventory

$30\%$ to equipment$-$remaining useful life $8$ years

Balance to goodwill

During Year $3,$ a goodwill impairment loss of $$99,000$ was recognized, and an impairment test conducted as a December $31,$ Year $6,$ indicated that a further loss of $$49,000$ had occurred.

Amortization expense is grouped with cost of goods sold and impairment losses are grouped with administrative expenses. $$

Silver owes Pearl $$104,000$ on December $31,$ Year $6.$

Required: $$

$($a$)$ Prepare consolidated financial statements on December $31,$ Year $6.($Input all amounts as positive values except accumulated depreciation which should be indicated by minus sign. Omit $ sign in your response.$)$

$\backslash$table$[[$Pearl Company Consolidated Income Statement For the Year Ended December $31,$ Year $6],[$Sales$,$$ $4,950,000],[$Income tax,$],[,],[,],[,],[,],[,0],[(,],[$Attributable to:$,],[$Pearl$\text{'}$s shareholders,$],[$Non$-$controlling interest,$],[,]]$

$\backslash$table$[[$Pearl Company Consolidated Balance Sheet December $31,$ Year $6],[$Assets$,,],[$P$,,],[,,],[,,],[,,],[?,,],[,,],[$P$,,],[,$$$,0],[$Liabilities and Equity,,$],[?,,],[,,],[,,],[(,,],[+,,],[,$$$,0]]$