P Ltd buys 100 per cent of the shares of S Ltd on 31 December 19X5. The balance sheets of the two companies on 31 December \(19 \mathrm{X} 6\) are as shown. You are to draw up a consolidated balance sheet as at 31 December \(19 \mathrm{X} 6\).

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P Balance Sheet as at 31 December 19X6 Investment in subsidiary: 4,000 shares bought 31.12.19X5 5,750 Fixed assets Current assets Share capital Profit and loss account: As at 31.12.19X5 Add Profit for 19X6 5,850 2,400 14,000 10,000 1,500 2,500 4,000 14,000