On 31 December 2019, A3 Ltd paid £550,000 to acquire 80% of the ordinary share capital of A4 Ltd. The statements of financial position of the two companies just after this transaction were as follows:

The fair value of the property, plant and equipment of A4 Ltd on 31 December 2019 was £440,000. All other assets and liabilities were shown at fair value.

Required:

Prepare a consolidated statement of financial position as at 31 December 2019.

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Assets Non-current assets Property, plant and equipment Investment in A4 Ltd Current assets Equity Ordinary share capital Retained earnings Liabilities Current liabilities A3 Ltd £000 3,700 550 4,250 2,750 7,000 2,000 3,550 5,550 1,450 7,000 A4 Ltd £000 320 250 570 100 280 380 190 570