You are to draw up a consolidated balance sheet from the following details as at 31 December 19X9.

During the year P had sold goods which had cost \(£ 150\) to S for \(£ 240\). None of these goods had been sold by the balance sheet date.
At the balance sheet date \(\mathrm{P}\) owes \(S £ 220\).

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P Balance Sheet as at 31 December 19X9 Investment in subsidiary: 1,000 shares bought 31.12.19X8 Fixed assets Stock Debtors Bank Share capital Profit and loss account: As at 31.12.19X8 Profit for 19X9 General reserve Creditors 2,800 1,100 1,200 2,100 200 7,400 2,000 1,500 2,200 3,700 800 900 7,400