The balance sheets of Jumbo plc and of Nipper plc, on the date that Jumbo plc bought the shares in Nipper plc, were as follows:

Required:
Assume that the balance sheet values of Nipper plc’s assets represent fair values. Prepare the group balance sheet immediately following the share acquisition.

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Balance sheets as at 31 March Jumbo plc Nipper plc m m m m 63 69 63 18 149 Non-current assets Property, plant and equipment Land 84 18 Plant 34 Vehicles 45 163 12 282 33 Investment 12 million shares of Nipper plc Current assets Inventories Trade receivables Cash 24 187 55 26 14 Total assets 32 44 95 10 282 Equity Called-up share capital: ordinary shares of 1 each, fully paid 100 Share premium account - Retained earnings 41 141 228 20 12 Non-current assets Borrowings - Loan notes Current liabilities Trade payables Total equity and liabilities 100 40 40 70 41 39 282 149