Immediately after Pai and Family Ltd had acquired control of Son One Ltd and Son Two Ltd the following balance sheets were drawn up. You are to draw up a consolidated balance sheet.

Any negative goodwill is to be eliminated by adjusting the non-current assets of the relevant subsidiary.

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Pai and Family Balance Sheet Investments in subsidiaries: Son One Ltd (10,000 Ordinary 1 shares) Son Two Ltd (12,000 Ordinary 1 shares) Non-current assets Current assets Share capital - Ordinary 1 shares Retained profits Non-current assets Current assets Share capital-Ordinary 1 shares Retained profits General reserve 16,000 18,000 73,000 33,000 140,000 110,000 30,000 140,000 Son One Balance Sheet 11,000 4,000 15,000 10,000 2,000 3,000 15,000