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(Solved by Expert Tutors) The summarized statements of financial position of Close and Steele as a

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
??????????????????????????????????????????????????????????????????????????????????????????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
????????????????????????????????????????????????????????????????????????????????????????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.

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