Prepare a consolidated statement of financial position from the following details as at 31 March 2016.

At the date of the statement of financial position, Sibling B owed Sibling A £1,000 and Parents for Siblings owed Sibling B £1,500.
During the year, Parents for Siblings had sold to Sibling A for £3,220 goods costing £2,500. Of these goods, 1/3 had been sold by the year end. Parents for Siblings had also sold goods costing £700 to Sibling B for £1,050, of which none had been sold by the year end.
The amount paid for the investment in Sibling A was £65,000. The fair value of the net assets of Sibling A at that date was £76,000 and the £11,000 gain from a bargain purchase was recognised immediately in Parents for Siblings profit or loss.

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Parents for Siblings Statement of Financial Position as at 31 March 2016 Non-current assets Investment in subsidiaries: Sibling A 50,000 shares bought 31.3.2015 Sibling B 45,000 shares bought 31.3.2016 Other non-current assets Current assets Inventory Accounts receivable Bank Current liabilities: Accounts payable Share capital Retained profits: As at 31.3.2015 Add Profit for 2016 General reserve Non-current assets Inventory Accounts receivable Bank Current liabilities: Accounts payable 4 Sibling A Statement of Financial Position as at 31 March 2016 £ Share capital Retained profits: As at 31.3.2015 Less Loss for 2016 General reserve (as at 31.3.2015) 31,000 14,000 7,000 47,000 15,000 18,000 9,000 2,000 17,000 (12,000) £ 76,000 58,000 134,000 82,000 216,000 52,000 268,000 (11,000) 257,000 175,000 62,000 20,000 257,000 £ 39,000 29,000 68,000 (4,000) 64,000 50,000 5,000 9,000 64,000