Papai Ltd acquired all the shares in Sister and Son Ltd and then the following statements of financial position were drawn up. You are to prepare a consolidated statement of financial position.

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Papai Statement of Financial Position Investment in Sister and Son Ltd - Ordinary £1 shares Non-current assets Inventory Accounts receivable Bank Share capital - Ordinary £1 shares Sister and Son Statement of Financial Position Non-current assets Inventory Accounts receivable Bank Share capital - Ordinary £1 shares £ 90,000 165,000 41,000 37,000 7,000 340,000 340,000 £ 52,000 17,000 7,000 4,000 80,000 80,000