As at the year-end the parent’s Statement of financial position reports rent receivable as an asset at £600 and this includes £150 due from the subsidiary. Subsidiary reports rent payable as £150. Which of the following will be included in the Consolidated Statement of financial position?

(a) Rent receivable as an asset at £600 and rent payable as a current liability at £150

(b) Rent receivable as an asset at £450 and rent payable as a current liability at £150

(c) Rent receivable as an asset at £450 and report nothing within Current liabilities as rent payable

(d) Rent receivable as an asset at £600 and report nothing as current liability