The following SFPs have been prepared at 31 December 20X8.

Dickens acquired 16,000 ordinary $1 shares in Jones on 1 January 20X8, when Jones' retained earnings stood at $20,000.On this date, the fair value of the 20% noncontrolling shareholding in Jones was $12,500.

The Dickens Group uses the fair value method to value the noncontrolling interest.

Dickens acquired 16,000 ordinary $1 shares in Jones on 1 January 20X8, when Jones' retained earnings stood at $20,000.On this date, the fair value of the 20% non-controlling shareholding in Jones was $12,500.

The Dickens Group uses the fair value method to value the non-controlling interest.

Required: Prepare the consolidated statement of financial position of Dickens as at 31 December 20X8. Show calculations step by step

\begin{tabular}{|c|c|c|} \hline & \begin{tabular}{c} Dickens \\ $ \end{tabular} & \begin{tabular}{c} Jones \\ $ \end{tabular} \\ \hline \multicolumn{3}{|l|}{ Non-current assets: } \\ \hline Property, plant \& equipment & 85,000 & 18,000 \\ \hline Investment: Shares in Jones & 60,000 & \\ \hline \multirow[t]{2}{*}{ Current assets } & 160,000 & 84,000 \\ \hline & 305,000 & 102,000 \\ \hline \multicolumn{3}{|l|}{ Equity: } \\ \hline Ordinary $1 shares & 65,000 & 20,000 \\ \hline Share premium & 35,000 & 10,000 \\ \hline \multirow[t]{2}{*}{ Retained earnings } & 70,000 & 25,000 \\ \hline & 170,000 & 55,000 \\ \hline \multirow[t]{2}{*}{ Current liabilities } & 135,000 & 47,000 \\ \hline & 305,000 & 102,000 \\ \hline \end{tabular}