The Balance Sheets of Art Limited and Craft Limited as on 31 March 2024 are as below: Particulars Note No. Art Limited (₹) Craft Limited (₹) I. Equity and Liabilities a. Shareholder's Fund i. Share Capital 1 6,50,000 4,00,000 ii. Reserve & Surplus 2 3,12,000 2,48,000 b. Current Liabilities i. Trade Payables 1,45,000 92,000 ii. Short term borrowings 3 70,000 - 11,77,000 7,40,000 II. Assets a. Non-current Assets i. Property, Plant & Equipment 4 4,21,000 3,60,000 ii. Non-current investment 5 4,32,000 - b. Current Assets i. Inventories 1,66,000 2,05,000 ii. Trade Receivables 6 1,33,500 1,68,300 iii. Cash & Cash equivalent 24,500 6,700 11,77,000 7,40,000 Notes to Accounts: Sr. No. Particular Art Limited (₹) Craft Limited (₹) 1. Share capital 6,500 shares of ₹ 100 each fully paid up 6,50,000 4,000 shares of ₹ 100 each fully paid-up 4,00,000 Total 6,50,000 4,00,000 2. Reserves and Surplus General Reserve 1,20,000 40,000 Profit and Loss account 1,92,000 2,08,000 Total 3,12,000 2,48,000 3. Short term borrowings Bank Overdraft 70,000 4. Property Plant & Equipment Land & Building 1,90,000 1,35,000 Plant & Machinery 2,31,000 2,25,000 Total 4,21,000 3,60,000 5. Non-current investments Investment in Craft Limited (Cost) 4,32,000 6. Cash & Cash equivalents Cash 24,500 6,700 Additional information: Art Limited acquired 3,200 ordinary shares of Craft Limited on 1st October, 2023. The Reserve & Surplus and Profit & Loss Account of Craft Limited showed a credit balance of ₹40,000 and ₹58,700 respectively as on 1st April, 2023. The Plant & Machinery of Craft Limited which stood at ₹ 2,50,000 as on 1st April, 2023 was considered worth ₹2,20,000 on the date of acquisition. The depreciation on Plant & Machinery is calculated @ 10% p.a. on the basis of useful life. The revaluation of Plant & Machinery is to be considered at the time of consolidation. Craft Limited deducts 1% from Trade Receivables as a general provision against doubtful debts. This policy is not followed by Art Limited. On 31st March 2024, Craft Limited's inventory includes goods which it had purchased from Art Limited for 1,03,500 which made a profit of 15% on cost price. You are required to prepare a consolidated Balance Sheet as on 31st March 2024.