When Parent Undertakings Ltd took control of Sons and Co Ltd it valued the fixed assets at 31.12.2007 at’ £75,000 instead of £60,000 as shown.
Draw up the consolidated balance sheet as at 31 December 2008.

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Parent Undertakings Ltd Balance Sheet as at 31 December 2008 Investment in Subsidiary: 40,000 shares bought 31.12.2007 68,000 Fixed assets 80,000 Less Depreciation for year (8,000) 72,000 Current assets 12,600 152,000 Share capital Profit and loss: As at 31.12.2007 Add Profit for 2008 110,000 32,000 10,000 42,000 152,000