Parents Ltd acquires 90% of the shares of Sonny Jim Ltd. The following statements of financial position are then drafted. You are to draw up the consolidated statement of financial position. Any gain from a bargain purchase is to be eliminated by adjusting the non-current assets acquired.

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Investment in Sonny Jim Ltd: 18,000 Ordinary £1 shares Non-current assets Inventory Accounts receivable Bank Parents Statement of Financial Position Share capital - Ordinary £1 shares Non-current assets Inventory Accounts receivable Bank Sonny Jim Statement of Financial Position Share capital - Ordinary £1 shares £ 14,000 82,000 29,000 21,000 4,000 150,000 150,000 £ 12,000 4,000 3,000 1,000 20,000 20,000