Papa and Mamae Ltd buys 667/3% of the shares in Son and Daughter Ltd. You are to draw up the consolidated balance sheet from the following balance sheets constructed immediately control had been achieved. Any negative goodwill is to be eliminated by adjusting the non-current assets acquired.

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Papa and Mamae Balance Sheet Investment in Son and Daughter: 12,000 Ordinary 1 shares 10,800 Non-current assets 58,000 Inventory 10,200 Accounts receivable 15,900 Bank 5,100 100,000 Share capital - Ordinary 1 shares 100,000 Son and Daughter Balance Sheet Non-current assets Inventory Accounts receivable. Bank Share capital - Ordinary 1 shares 8,000 5,000 4,000 1,000 18,000 18,000