. H Limited holds 70% shares in S Limited When the shares were acquired, S Limited's retained earnings stood at $8,000 and the Share Premium account balance was $3,000 . Non-depreciating long term assets of S were revalued by $6,000 on the date of acquisition by H. Balance sheets of the two companies as at June 30, 2011 are given below. H Limited S Limited Non current Assets Property Plant and Equipment 70,000 36,000 Investment in S limited (at cost) 30,000 100,000 36,000 Current Assets Debtors 30,000 24,000 Amount due from S Limited 2,000 32,000 24,000 Current Liabilities Creditors (22,000) (16,000) Amount due to H Limited (2,000) (22,000) (18,000) Net Assets 110,000 42,000 Equity Ordinary Share Capital 80,000 20,000 Share Premium 5,000 Revaluation Reserve 6,000 Retained Earnings 30,000 11,000 110,000 42,000 Required Prepare consolidated balance sheet of H limited and its subsidiary S, as at June 30, 2011