The summarized statements of financial position of Close and Steele as at December 31, 2012 were as follows:

Close Steele

$ $

Assets

Non-current assets

Tangible assets 84,000 58,200

Investments 80,000

Current assets

Current accounts - Close 3,200

Cash at bank 10,000 3,000

Investments 2,500

Trade receivables 62,700 21,100

Inventory 18,000 12,000

Total 254,700 100,000

Equity and Liabilities

Trade payables 35,000 11,000

Current account - Steele 2,700 -

Called up share capital ($1 ordinary shares) 120,000 60,000

Share premium account 18,000

Revaluation surplus on January 1, 2012 23,000 16,000

Retained earnings on January 1, 2012 40,000 8,000

Profit for 2012 16,000 5,000

Total 254,700 100,000

Additional information

(1) On December 31, 2011, Close acquired 48,000 shares in Steele for $80,000 cash.

(2) The inventory of Close includes $4,000 goods from Steele invoiced to Close at cost plus 25%.

(3) A payment for $500 by Close to Steele, sent before December 31, 2012, was not received by Steel until January 2013.

(4) Goodwill has been impaired by $7,800 since the acquisition took place.

(5) Non-controlling interest is valued at the proportionate share of the subsidiary's identifiable net assets; it is not credited with its share of goodwill.

Required:

Prepare the consolidated statement of financial position of Close and its subsidiary Steele as at December 31, 2012.