Prepare a consolidated balance sheet from the following details as at 31 March 2006.

During the year, Parent sold goods which had cost £1,100 to Subsidiary for £1,800. None of these goods had been sold by the balance sheet date.
At the balance sheet date Parent owes Subsidiary £2,000.

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Parent Balance Sheet as at 31 March 2006 Non-current assets Investment in subsidiary: 50,000 shares bought 31.3.2005 Other non-current assets 105,000 140,000 245,000 Inventory Accounts receivable Bank 26,000 30,000 4,000 60,000 305,000 Accounts payable (3,000) 302,000 Share capital 200,000 Retained profits: As at 31.3.2005 45,000 Profit for 2006 50,000 General reserve 95,000 7,000 302,000