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Parent acquired control of Subsidiary on 1 August Year 3, subscribing for 3 million of the 4 million $1 ordinary shares issued by subsidiary. The net assets of Subsidiary, as reported in its statement of financial position at this date, amounted to $10 million. There was no trading between the two entities, but Parent made a five-year, interest free, loan to Subsidiary on 1 December Year 3. The draft statements of financial position of the two companies as of 31 July Year 4 were The fair value of the subsidiary's land at the date of acquisition was $12 million. Goodwill has suffered impairment of $2,000 since acquisition. For purposes of consolidation, the parent company measures the non-controlling Interest (NCI) in Trump at the NCI's proportionate share of the identifiable net assets . Required: Prepare a consolidated statement of financial position as at 31 July Year 4. Parent acquired control of Subsidiary on 1 August Year 3, subscribing for 3 million of the 4 million $1 ordinary shares issued by subsidiary. The net assets of Subsidiary, as reported in its statement of financial position at this date, amounted to $10 million. There was no trading between the two entities, but Parent made a five-year, interest free, loan to Subsidiary on 1 December Year 3. The draft statements of financial position of the two companies as of 31 July Year 4 were The fair value of the subsidiary's land at the date of acquisition was $12 million. Goodwill has suffered impairment of $2,000 since acquisition. For purposes of consolidation, the parent company measures the non-controlling Interest (NCI) in Trump at the NCI's proportionate share of the identifiable net assets . Required: Prepare a consolidated statement of financial position as at 31 July Year 4

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