The statement of financial position of Column Ltd. in Belize dollars, at December 31, 2013, was as follows:

On January 1, 2011, Centaur acquired all the shares in Column, giving in exchange 50,000 shares in Centaur, these having a fair value at acquisition date of BZ$5 per share. At that date the book value of Column was BZ$100,000 (BZ$20,000 common shares and BZ$80,000 retained earnings).
The recorded amounts of Column's identifiable assets and liabilities at the day of acquisition were equal to their fair values except for inventory and plant and equipment, whose fair values were higher by BZ$10,000 and BZ$100,000, respectively. The plant and equipment had a further five-year life. All the inventory was sold by Column by December 2011. The tax rate is 40%. The following exchange rates exist:
January 1, 2011 ........BZ$1 = C$0.517
December 31, 2011 ....... BZ$1 = C$0.62
December 31, 2012 ....... BZ$1 = C$0.58
December 31, 2013 ....... BZ$1 = C$0.60
Average 2011, 12, 13 ...... BZ$1 = C$0.59
Required
(a) Translate Column€™s statement of financial position into Canadian dollars as at December 31, 2013. The ending retained earnings balance is C$52,000.
(b) Calculate the consolidation adjustments for the fair value adjustments that would be required in 2013.

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COLUMN LTD. Statement of Financial Position as at December 31, 2013 (in BZS) Share capital (150,000 shares) Retained earnings Total equity Dividend payable Other labilities Total liabilities Total equity and liabilities Inventory Non-current assets Plant and equipment Goodwill Total assets $150,000 98,000 248,000 10,000 24,000 34,000 282,000 $44,000 $232,000 6,000 238,000 $282,000