Johnson & Johnson Balance Sheet as at 31 December 2051

	$	$
Non-current assets
Investment in subsidiary:
- 960,000 shares bought 1.1.2051	1,440,000
Other non-current assets	2,400,000
Current assets	465,000	4,305,000
Share capital		2,400,000
Retained profits
As at 1.1.2051	475,000
Add Profit for year to 31.12.2051	485,000	960,000
Suspense		945,000
Total		4,305,000

Janssen Pharmaceuticals Balance Sheet as at 31 December 2051

	$	$
Non-current assets		970,000
Current assets		940,000
Share capital		480,000
Retained profits
As at 1.1.2051	460,000
Add Profit for year to 31.12.2051	455,000	915,000
Total		1,910,000

Required:

1. Formulate the consolidated balance sheet as at 31 December 2051.
2. Rectify any errors in the suspense account.
3. Make adjustments for inter-company transactions.