Base plc acquired 60% of the common shares of Ball plc on 1 Januar y 20X0 and gained control. At that date the balance sheets of the two companies were as follows:

The fair value of the property, plant and equipment in Ball at 1/1/20X0 was £120,000.
Required: Prepare a consolidated balance sheet for Base as at 1 January 20X0.

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Base Ball 000 000 ASSETS Non-current assets Property, plant and equipment 250 100 Investment in Ball 90 Current assets 100 70 Total assets 440 170 EQUITY AND LIABILITIES Capital and reserves Share capital 200 80 Share premium Retained earnings Current liabilities 20 160 10 360 110 80 60 Total equity and liabilities 440 170