On January 1^st,ABC Purchased 80% of the Voting Shares of DEF

On January 1^st,ABC purchased 80% of the voting shares of DEF Inc.for $300,000.
On that date,DEF's fair values approximated its book values with the exception of a Patent which was identified and estimated to have a value of $50,000,and DEF's inventories,which had an estimated fair value $20,000 higher than book value.ABC adheres to IFRS.
The balance sheets of both companies immediately following the acquisition were as follows: $$\begin{array} { l l l } \text { ASSETS } & \text { ABC } & \text { DEF } \\\text { Cash } & \$ 300,000 & \$ 120,000 \\\text { Accounts Receivable } & \$ 120,000 & \$ 40,000 \\\text { Inventories } & \$ 100,000 & \$ 20,000 \\\text { Plant \& Equipment (net) } & \$ 160,000 & \$ 40,000 \\\text { Investment in DEF Ine } & \$ 300,000 & \\\text { Patent } & \$ 220,000 & \\\text { TOTAL ASSETS } & \mathbf { \$ 1 , 2 0 0 , 0 0 0 } & \mathbf { \$ 2 2 0 , 0 0 0 }\end{array}$$ $$\begin{array}{l}\text { LIABILITIES \& EQUITY }\\\begin{array} { l l l } \text { Current Liabilities } & \$ 200,000 & \$ 80,000 \\\text { Bonds Payable } & \$ 800,000 & \$ 70,000 \\\text { Common Shares } & \$ 100,000 & \$ 20,000 \\\text { Retained Earnings } & \$ 100,000 & \$ 50,000 \\\text { LIABILITIES \& EQUITY } & \$ \mathbf { 1 , 2 0 0 , 0 0 0 } & \mathbf { \$ 2 2 0 , 0 0 0 }\end{array}\end{array}$$ Required:
Prepare ABC's consolidated balance sheet immediately following the acquisition.Ignore any income tax effects.