$20\mathrm{.}15$ Consolidated financial statements: Consolidation difference and current period intra$-$group transactions

The trial balances of Parasite Ltd$,$ the parent, and Host Ltd$,$ its wholly owned subsidiary company, as at $30$ June $20$X$7$ are

shown below:

Host Ltd has paid no dividends since $1$ July $20$X$3,$ the control date. Host's owners' equity at that date was as given in

the trial balance, except that retained profits was then $$250000.$

Fair values relevant to the consolidation are imbedded in the data supplied.

Inventory purchases by Host Ltd from Parasite Ltd during $20$X$7$ amounted to $$100000.$ Their cost to Parasite was

$$70000.$ Host still holds $$50000$ of this inventory at the year$-$end. This is not inventory that was held at the control

date.

The debentures were issued at par and are redeemable at par on $31$ March $20$X$9.$ Interest on the debentures is $4\%$ of

the issue price.

Required:

Present consolidation working papers and prepare a full set of consolidated financial statements for the year to $30$ June

$207.$