You are to draw up a consolidated balance sheet as at 31 December 20X5 from the following:

At the balance sheet date, Son 1 owed Pa and Mum £2,500 and Son 2 £1,100, and Pa and Mum owed Son 2 £2,100.

Pa and Mum had sold goods which had cost £1,400 to Son 2 for £2,100, and of these goods onehalf had been sold by Son 2 by the year end.

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Investment in subsidiaries: Son 1 90,000 shares bought 31.12.20X4 Son 2 56,000 shares bought 31.12.20X4 Fixed assets Stock Debtors Bank Creditors Pa and Mum Balance Sheet as at 31 December 20X5 Share capital Profit and loss: As at 31.12.20X4 Less Loss for 20X5 General reserve (as at 31.12.20X4) E 43,000 38,000 17,000 98,000 (16,000) 53,000 (16,000) £ 125,000 85,000 210,000 170,000 82,000 462,000 325,000 37,000 100,000 462,000