Youare to draw up a consolidated balance sheet as at 31 December 2005 from the following: Pa

Youare to draw up a consolidated balance sheet as at 31 December 2005 from the following:

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Pa and Mum Balance Sheet as at 31 December 2005 Investment in subsidiaries: 3 Son 1 90,000 shares bought 31.12.2004 125,000 Son 2 56,000 shares bought 31.12.2004 85,000 210,000 Other non-current assets 170,000 Current assets 380,000 Inventory 43,000 Accounts receivable 38,000 Bank 17,000 98,000 Total assets 478,000 Current liabilities: Accounts payable (16,000) 462,000 Share capital 325,000 Retained profits: As at 31.12.2004 53,000 Less Loss for 2005 (16,000) 37,000 General reserve (as at 31.12.2004) 100,000 462,000