The Managing Director of Sugar plc has asked you to prepare the statement of financial position for the group. Sugar plc has one subsidiary, Salt Ltd. The statements of financial position of the two companies as at 31 October 2018 are set out below;

statement of financial position as at 31 october 2018
	Sugar plc	Salt plc
	0	0
Non current assets	79875	31913
Propert plant and equipmetnt	47875	31913
Investment in Salt	32000
Current assets	42253	8279
inventory	25954	4555
trade and other receivables	14343	3656
cash and cash equivalents	1956	68
total assets	122128	40192
Equity and lialilities
Equity	83160	29340
share capital	45000	12000
share premium	12000	6000
retained earnings	26160	11340
non current liabilities	20000	7000
long term loan	20000	7000
current liabilities	18968	3831
trade accounts payable	14454	3685
other payables	4514	146
total liabilities	39968	10831
total equity and liabilities	122128	40171

Additional information

the share capital of salt ltd consist of ordinary shares of P1 each,ownweship of these shares carries voting rights in Salt ltd.There have been no changes to the balances of the share capital and share premium during the year.No dividends were paid or proposed by Salt ltd duribg the year.

Sugar plc acquired 8000,000 shares in salt ltd pn 1 november 2017

At november 2017 the balance of retained earnings of salt ltd was P9,750,000.

The fair value of the non current assests of Salt ltd at november 2017 was P31,100,000.00.The book value of the non current assets at 1 November 2017 was P26,600,000.00.The revaluation has not been recorded in the books of Salt ltd(ignore any depreciation for the year)

Included in trade and other receivables for Sugar plc and in trade and other payables for Salt ltd is an inter-company transaction for P 2000,000 that took place in early October 2018.

The directors of sugar plc have concluded that goodwill has been impaired by P2,100,000 during the year.

The non controlling interst is measured as the proportionate share of the fair value of Salt ltds net assets.

Required;

Draft a consolidated statement of financial position for Sugar plc and its subsidiary as at 31 October 2018.