On December 30 20X5 the statements of financial position of
On December 30, 20X5, the statements of financial position of the Perk Company and the Scent Company are as follows:


For both companies, the fair values of their identifiable assets and liabilities are equal to their carrying values except for the following fair values:


The following cases are independent:
1. On December 31, 20X5, Perk Company purchases the net assets of Scent Company for $ 5.5 million in cash. Scent Company distributes the proceeds to its shareholders in return for their shares, cancels the shares, and ceases to exist as a separate legal entity.
2. On December 31, 20X5, Perk Company purchases 75% of the outstanding voting shares of Scent Company for $ 4.5 million in cash. Scent Company continues to operate as a separate legal entity.

Required
For each of the two independent cases, prepare a consolidated SFP for Perk Company at December 31, 20X5, subsequent to the business combination. For the second case, prepare a consolidated SFP using each of the following four methods.
1. Proportionate consolidation
2. Parent-company
3. Parent- company extension
4.Entity
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