GlaxoSmithKline plc Balance Sheet as at 31 December 2039

	£	£
Non-current assets
Investment in subsidiary:
- 720,000 shares bought 1.1.2039	1,080,000
Other non-current assets	1,800,000
Current assets	345,000	3,225,000
Share capital		1,800,000
Retained profits
As at 1.1.2039	355,000
Add Profit for year to 31.12.2039	365,000	720,000
Suspense		705,000
Total		3,225,000

Haleon plc Balance Sheet as at 31 December 2039

	£	£
Non-current assets		730,000
Current assets		700,000
Share capital		360,000
Retained profits
As at 1.1.2039	340,000
Add Profit for year to 31.12.2039	335,000	675,000
Total		1,595,000

Required:

1. Formulate the consolidated balance sheet as at 31 December 2039.
2. Rectify any errors in the suspense account.
3. Make adjustments for inter-company transactions.