You are the accountant of Patent

L$.$td$,$ and it is year end, and you have to consolidate the financial statensents companies Patience plc and Westacre

L$.$td on $28$ February $2023.$ "You are provided with the following information that, "Patent plc bought $60$ percentage of the issued share capital and voting rights of Westgate Ltd on $1$ March $2022$ for P$24$ million. At that date, Westgate Ltd$\text{'}$s issued share capital was P$5$ million, its share premium was P$2\mathrm{.}5$ million and retained earnings were P$5{631500}^{\text{'}\text{'}}.$

The statements of financial position for the two companies on $28$ February $2023$

$\backslash$table$[[,\backslash$table$[[$Patience plc$],[$P$0$b$0]],\backslash$table$[[$Westacre L$.$td$],[$P$000]]],[$Non$-$current assets$],[$Property$,$ plant and equipment,$31,891,13,592],[$Investment in Westacre Ltd$,12,000,-],[43,891,13,592],[$Current assets$],[$Cash und cash equivalents,$1,436,44],[$Trade and other receivables,$14,737,7,012],[$Imventories$,9,142,7,342],[25,315,14,395],[$Total axsets,$69,205,27,990],[$EQUITY AND LLABIL.ITIES$],[$Equity$],[$Share premium,$6,500,2,500],[$Share capital,$22,500,5,000],[$Retained earnings,$16,708,8,882],[$Tetal equity,$45,708,16,382],[$Non$-$current liabilities$],[$Long$-$term loans,$12,500,4,000],[$Current liabilities$],[$Trade and other payables,$8,116,7,521],[$Tax liability,$2,882,87],[10,997,7,600],[$Total liabalities,$23,497,11,608],[$Total equity and liabilities,$69,205,27,990]]$

Further information

$($a$)$ On $1$ March $2022$ Westacre had Property Plant Equipment with a fair valae of P$1,25$ million more than carrying ansount, the amount of which was not yet recorded in Westacre's books $($ignore depreciation$).$

Page $2$ of $7$

$($b$)$ Incladed in Patience ple's trade and other receivables is P$6,500,000$ owed from Westacre Ltd$.$ Incladed in Westacre Lsd$.\text{'}$s trade and other payables is P$6,500,000$ due to Patience plc$.$

$($C$)$ During the year Patience ple sold some imentory to Westacre Ltd for P$25$ million. These goods had cost Patience ple P$15$ million. One quarter of the goods remained in imventories at the close of the year.

$($d$)$ During the year, goodeill was impaired by P$337,000.$

Required

Prepare the comsolidated statement of financial position for Paticece ple and its subsidiary undertaking as at $31$ December $2023.($Sbow all your workings$)$