1. On 1 January 2009, Trila Co. paid 70,000 to acquire the entire share capital of Trilac Co. On that date, the retained earnings of Trilac were 14,000 and all of its assets and liabilities were shown in the books at their fair values. The balance sheets of Trila Co. and Trilac Co. as at 31 December 2011 (i.e three years later) are as follows; + Trila Trilac Assets Non-Current assets PPE 620,000 47,000 Investment in Trilac 70,000 Current assets 285,000 37,000 Total 975,000 84,000 Equity Ordinary Share capital 500,000 40,000 Retained Earnings 393,000 26,000 Liabilities Current Liabilities 82,000 18,000 Total 975,000 84,000 Required; Prepare a consolidated balance sheet as at 31 December 2011