2 6 Marks Father Ltd acquires Son Ltd for a cash consideration of $1.2m on 30 June 2022. All assets of Son Ltd. presented above on 30 June 2022 are fairly valued. At 30 June 2022 Son Ltd. had Patent (fair value 250000) that was internally developed identifiable intangible assets. Following is the statement of financial positions of both companies: Required: Current assets Father Ltd Son Ltd Cash 20,000 10,000 Accounts receivable 300,000 110,000 Non-current assets Plant 1,400,000 1,000,000 Land 400,000 200,000 Investment in Son Ltd 1,200,000 3,320,000 1,320,000 Current liabilities Accounts payable 120,000 60,000 Non-current liabilities Loans 800,000 300,000 Shareholders' equity Share capital 2,000,000 400,000 Retained earnings 400,000 560,000 3,320,000 1,320,000 a) Provide the consolidated statement of financial position for Father Ltd and Son Ltd as at 30 June 2022. (4 Marks) b) Provide consolidation adjustment journal entry to eliminate the investment in Son Ltd. (2 Marks)