The following financial statements were prepared on December 31, Year 6. Additional Information Pearl purchased 80% of the outstanding voting shares of Silver for $3,800,000 on July 1 , Year 2 , at which time Silver's retained earnings were $470,000, and accumulated depreciation was $74,000. The acquisition differential on this date was allocated as follows: - 20% to undervalued inventory - 40% to equipment-remaining useful life 8 years - Balance to goodwill During Year 3, a goodwill impairment loss of $84,000 was recognized, and an impairment test conducted as at December 31 , Year 6 , indicated that a further loss of $34,000 had occurred. Amortization expense is grouped with cost of goods sold and impairment losses are grouped with administrative expenses. Silver owes Pearl $89,000 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.)