12 poin QUESTION 5 On July 2019, Frankie Ltd acquired or the issued shares of Sinatra Lid for $250,000. At that date, Sinatra Luas equity consisted of share capital of $200.000 a carniry of $300,000. At acquisition date, all identifiable net assets of Sinatra Ltd were recorded at amounts equal to fair value At July 2019, the fair value of the non-controlling interest was 550,000 Required: (a) Calculate goodwill using the partial goodwill method. (3 marks) (b) Explain the reason why an adjustment is required to the NCI share of profit, for a non-current asset revalued to fair value at acquisition date. (9 marks)