Immediately after P Ltd had acquired control of S1 Ltd and S2 Ltd the following balance sheets were drawn up. You are to draw up a consolidated balance sheet.

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Investment in subsidiaries: S1 Ltd (1,800 shares) S2 Ltd (2,000 shares) Fixed assets Current assets P Balance Sheet Share capital Profit and loss account General reserve Fixed assets Current assets Share capital Profit and loss account General reserve 4,200 2,950 4,150 2,100 13,400 10,000 2,000 1,400 13,400 S1 Balance Sheet 3,500 2,500 6,000 3,000 1,200 1,800 6,000