Dad Ltd buys 100% of the shares of Daughter Ltd on 31 December 2015. The statements of financial position of the two companies on 31 December 2016 are as shown. You are to draw up a consolidated statement of financial position as at 31 December 2016.

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Investment in subsidiary: 80,000 shares bought 31.12.2015 Non-current assets Current assets Dad Statement of Financial Position as at 31 December 2016 Share capital Retained profits: As at 31.12.2015 Add Profit for 2016 Non-current assets Current assets Share capital Retained profits: Daughter Statement of Financial Position as at 31 December As at 31.12.2015 Add Profit for 2016 £ 59,000 77,000 £ 10,000 31,000 £ 120,000 102,000 64,000 286,000 150,000 136,000 286,000 £ 98,000 23,000 121,000 80,000 41,000 121,000