The following are the profit and loss accounts of Healthy Limited (HL) and Sick Limited (SL) for the year ending March 31, 2010:

Additional Information:

The following additional information is available:

(i) The issued share capital of SL is 800 equity shares of ₹10 each fully paid and 200 6% preference shares of ₹10 each fully paid.

(ii) SL incorporated on April 1, 2009 also issued 400 8% debentures of ₹10 each.

(iii) On July l, 2009 HL acquired 600 equity shares of SL and half of the debentures of SL.

(iv) During the year 2009–10, SL sold to HL goods for ₹3,000 at a price of cost plus 50%.

(v) On March 31, 2010 one fourth of the goods mentioned in (iv) remained unsold with HL.

Prepare consolidated profit and loss account

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Particulars Profit and Loss Account for the year ending March 31, 2010 Healthy Sick Particulars 32,000 14,500 By Sales 8,000 10,000 By Closing stock 32,500 To Purchase To Manufacturing expenses To Gross profit c/d To Sundry expenses To Debenture interest To Net profit c/d To Provision for tax To Interim dividend To Proposed Preference dividend To Proposed equity dividend To Balance c/f 8,000 40,000 3,000 5,960 8,960 2800 2,000 1,160 5,960 4,000 240 5,760 10,000 2,400 1,120 120 1,680 440 5,760 By Gross profit b/d By Debenture interest By Interim dividend By Net profit b/d Healthy Sick 38,000 30,000 2,000 40,000 8,000 120 840 8,960 5,960 5,960 2,500 32,500 10,000 10,000 5,760 5,760