Set out below are the balance sheets for Macro plc and Micro plc as at 31 December 20X0.

Macro plc bought its holding of 400,000 ordinary shares in Micro plc when the latter’s reserves stood at £312,000.

During the year ended 31 December 20X0, Macro plc regularly sold products to Micro plc at a selling price of cost plus 333 per cent. At 31 December 20X0, Micro plc’s closing stock included £208,000 purchased from Macro plc.
The difference between the Micro plc’s current account of £57,000 shown under debtors on Macro plc’s balance sheet and Macro plc’s current account of £40,000 shown under creditors on Micro plc’s balance sheet is due to the fact that a cheque of £17,000 mailed by Micro plc on 31 December 20X0 was not received by Macro plc until 5 January 20X1.
Required:
Prepare a consolidated balance sheet for the Macro Group as at 31 December 20X0.

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Balance sheets as at 31 December 20X0 000 Macro plc 000 Micro plc 000 000 000 000 Fixed assets Tangible assets 5,121 1,230 Investments Shares in Micro plc 962 6,083 1,230 Current assets Stocks 1,244 514 Debtors Trade debtors 2,048 390 Owed by Micro plc 57 - Cash at bank 960 4,309 46 950 Creditors: amounts falling due within one year Trade creditors (2,825) Owed to P plc Taxation (315) Net current assets 1,169 Total assets less: 7,252 current liabilities Creditors: amounts falling due after one year Debenture loan (634) (40) (60) 216 1,446 (750) 6,502 1,446 000 000 Capital and reserves Called-up share capital 1,800 600 Reserves brought forward 4,050 702 Profit and loss account -20X0 652 144 6,502 1,446