.2014 & & 1,500 & \\

\hline & 331,550 & 167,900 & 124,250 \\

\hline

\end{tabular}

ATH Ltd acquired the shares in FRN Ltd on 31 December 2012, when the balance of retained profits of FRN Ltd was $£ 700$, and acquired the shares in GLE Ltd on 31 December 2013. No dividend was paid by either ATH Ltd or GLE Ltd for the year 2013.

The sales of GLE Ltd for 2014 ( $£ 116,000$ ) include $£ 1,000$ for goods sold to FRN Ltd and this amount has been debited to the purchases account in the books of FRN Ltd.

All these goods were sold by FRN Ltd during 2014.

\section*{Required:}
A consolidated income statement for the year 2014 and a consolidated statement of financial position as on 31 December 2014 (not necessarily in a form for publication).
Ignore depreciation of non-current assets and taxation.