Papai Ltd bought 51% of the shares in Sons and Co Ltd on 31 October 2007. From the following balance sheets you are to draw up the consolidated balance sheet as at 31 October 2008.

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Papai Balance Sheet as at 31 October 2008 Investment in Sons and Co Ltd: 40,800 shares Non-current assets Current assets Share capital Retained profits: As at 31.10.2007 Add Profit for 2008 Sons and Co Balance Sheet as at 31 October 2008 Non-current assets Current assets Share capital Retained profits: As at 31.10.2007 Add Profit for 2008 General reserve (unchanged since 2007) 60,000 74,000 36,000 170,000 125,000 19,000 26,000 45,000 170,000 91,000 19,000 110,000 80,000 7,000 8,000 15,000 15,000 110,000