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

CloseSteele

$$

Assets

Non-current assets

Tangible assets84,00058,200

Investments80,000

Current assets

Current accounts - Close3,200

Cash at bank10,0003,000

Investments2,500

Trade receivables62,70021,100

Inventory18,00012,000

254,700 100,000

Equity and Liabilities

Trade payables35,00011,000

Current account - Steele 2,700-

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

Share premium account18,000

Revaluation surplus on January 1, 2012 23,00016,000

Retained earnings on January 1, 2012 40,0008,000

Profit for 201216,0005,000

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.