Nike, Inc. Balance Sheet as at 31 December 2048

	$	$
Non-current assets
Investment in subsidiary:
- 900,000 shares bought 1.1.2048	1,350,000
Other non-current assets	2,250,000
Current assets	435,000	4,035,000
Share capital		2,250,000
Retained profits
As at 1.1.2048	445,000
Add Profit for year to 31.12.2048	455,000	900,000
Suspense		885,000
Total		4,035,000

Converse Inc. Balance Sheet as at 31 December 2048

	$	$
Non-current assets		910,000
Current assets		880,000
Share capital		450,000
Retained profits
As at 1.1.2048	430,000
Add Profit for year to 31.12.2048	425,000	855,000
Total		1,790,000

Required:

1. Prepare the consolidated balance sheet as at 31 December 2048.
2. Address any discrepancies in the suspense account.
3. Adjust for inter-company transactions.