Parent plc Statement of Financial Position as at 31 March 2018

When Parent plc bought the shares of Subsidiary Ltd it valued the non-current assets at £132,000 instead of the figure of £121,000 as shown in the statement of financial position of Subsidiary Ltd. Draw up a consolidated statement of financial position as at 31 March 2018.

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Non-current assets Investment in Subsidiary: 100,000 shares bought on 31.3.2017 Other non-current assets Less Depreciation for year Current assets Share capital Retained profits: As at 31.3.2017 Add Profit for 2018 Non-current assets Less Depreciation for year Current assets 44 Share capital Retained profits: As at 31.3.2017 Add Profit for 2018 124,000 (25,000) Subsidiary Ltd Statement of Financial Position as at 31 March 2018 50,000 30,000 £ 121,000 (22,000) 26,000 22,000 £ 190,000 99,000 31,000 320,000 240,000 80,000 320,000 £ 99,000 49,000 148,000 100,000 48,000 148,000