3. JPM Inc owns all the share capital of Econ Co. The following information is extracted from the balance sheets of the two companies for the year ended 31 December 2002: JPM Inc 750,000 350,000 Econ Co 320,000 160,000 Current assets Current liabilities Included in JPM Inc's purchase ledger is a balance in respect of Econ Co of 26,000. The balance on JPM Inc's account in the sales ledger of Econ Co is 32,000. The difference between those figures is accounted for by cash in transit. If there are no other intra-group balances, what is the value of net current assets in the consolidated balance sheet of JPM Inc and its subsidiary? A 528,000 C 560,000 B 554,000 D 586,000