Glaxo has a wholly owned subsidiaryBiddie Sawyer Limited (Biddie). Both the companies follow financial year as their

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Glaxo has a wholly owned subsidiary—Biddie Sawyer Limited (Biddie). Both the companies follow financial year as their accounting year. The summary of separate balance sheets of both the companies as on 31st December 2017 and the statement of profit and loss statement for the year ended on that date are given below:

Standalone Balance Sheet as on 31st March 2017

Particulars ASSETS Non-current assets. Property, plant and equipment Capital work-in-progress Investment

Standalone Statement of Profit and Loss for the Year Ended 31st March 2017

Particulars Revenue from operations Other income Total income Expenses: Cost of materials consumed PurchaseAdditional Information

1. The entire share capital of Biddie Sawyer Limited is held by GlaxoSmithKline Limited which was acquired at a cost of ₹ 4,761 lakh. The pre­acquisition reserves and surplus of Biddie stood at ₹ 4,665 lakh. 

2. The net receivables by Biddie from Glaxo from on the date of the balance sheet stood at ₹73 lakhs included in trade receivables of Biddie and other current financial liabilities of Glaxo. 

3. The revenue from operations of Glaxo include ₹24 lakhs earned from Biddie. The same amount has been included in other expenses of Biddie. 

Based upon the above information, you are required to prepare the consolidated balance sheet for Glaxo Smith Kline Limited as on 31st December 2017 and the consolidated statement of profit and loss for the year ended 31st December 2017. 

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