Acquisition analysis, acquisition date entries  LO3, 4 On 1 July 2019, Simon Ltd acquired the remaining 80% of the issued shares that it did not previously own in Martin Ltd, transferring 200 000 Simon Ltd shares to Martin Ltd’s former shareholders. At that date, the financial statements of Martin Ltd showed the following information. Share capital $350 000 Asset revaluation surplus 70 000 Retained earnings 230 000 All the assets and liabilities of Martin Ltd were recorded at amounts equal to their fair values at the acquisition date. The fair value of Simon Ltd’s shares at acquisition date was $2.75 per share. The previously held interest by Simon Ltd in Martin Ltd (i.e. 20% of the issued shares) was recognised in Simon Ltd’s accounts at the fair value at 1 July 2019 of $130 000. Simon Ltd incurred $20 000 in acquisition‐related costs, including $10 000 in share issue costs. Required 1. Prepare the acquisition analysis at 1 July 2019. 2. Prepare the journal entries for Simon Ltd to recognise the additional investment in Martin Ltd at 1 July 2019. 3. Prepare the consolidation worksheet entries for Simon Ltd’s group at 1 July 2019.