Pa Ltd buys 100 per cent of the shares of Son Ltd on 31 December 20X2. The balance sheets of the two companies on 31 December 20X3 are as shown. You are to draw up a consolidated balance sheet as at 31 December 20X3.

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Investment in subsidiary: 50,000 shares bought 31.12.20X2 Fixed assets Current assets Pa Balance Sheet as at 31 December 20X3 Share capital Profit and loss account: As at 31.12.20X2 Add Profit for 20X3 F 56,000 46,000 £ 70,000 84,000 38,000 192,000 90,000 102,000 192,000