Question One P Ltd regularly sells goods to its subsidiary S Ltd which it has owned since its incorporation. The statements of financial position of the two companies on 31st December, 2011 were as given below Assets P Ltd S Ltd Non-Current Assets Property, Plant and Equipment 83,200,000 72,000,000 Investment in shares of S Ltd @ 1,600 64,000,000 Total Non-Current Assets 147,200,000 72,000,000 Current Assets Inventories 25,600,000 19,200,000 Accounts Receivables: From S Ltd 3,200,000 others 9,600,000 14,400,000 Cash at Bank 1,600,000 Total Current Assets 12,800,000 33,600,000 Total Assets 160,000,000 105,600,000 Equity and Liabilities Equity Ordinary shares @ Shs 1,600 112,000,000 64,000,000 Retained earnings 25,600,000 30,400,000 Total Equity 137,600,000 94,400,000 Current Liabilities Bank overdraft Accounts Payables: To P Ltd 4,800,000 3,200,000 To others 22,400,000 3,200,000 Total Current Liabilities 22,400,000 11,200,000 Total Equity and liabilities 160,000,000 105,600,000 You are required to prepare the consolidated statement of financial position of P Ltd Group of Companies.