25.2 Accounting by an acquirer * L06 Tony Ltd acquired all the assets and liabilities of Jennings Ltd on 1 July 2024. At this date, the assets and liabilities of Jennings Ltd consisted of the following. carrying amount Fair value Current assets $1 000 000 $ 980 000 Non-current assets 4 000 000 4 220 000 5 000 000 5 200 000 Liabilities 500 000 500 000 $4 500 000 $4 700 000 Share capital 100 000 shares $3 000 000 Reserves 1 500 000 $4 500 000 In exchange for these net assets, Tony Ltd agreed to: - issue 10 Tony Ltd shares for every Jennings Ltd share Tony Ltd shares were considered to have a fair value of $10 per share; costs of share issue were $500 - transfer a patent to the former shareholders of Jennings Ltd the patent was carried in the records of Tony Ltd at $350000 but was considered to have a fair value of $1 million - pay $5.20 per share in cash to each of the former shareholders of Jennings Ltd. Tony Ltd incurred $10 000 in costs associated with the acquisition of these net assets. Required 1. Prepare an acquisition analysis in relation to_this acquisition