6 RQ 25.27 duires to shares of Sed on 1 Mly 2022 for a consideration of 572000 Equity of Stal of the date of action consists Share capital $200,000: Retained earnings $100.000 and Revolution surplus $150,000 (Total equity 3450.000). There are traction between the entities and all assets are fairty valued at the date of acquisition. The financial statement of Ltd and Stad ar 30 June 2028 fone year after acquisition) are Busted Profit before tax 300 Tax 100 30 Profit after a 200 70 Opening retained earnings 200 100 400 170 100 Budsid 400 170 300 1000 200 200 Statement of financial position Bild Sad Shareholders' funds 45 Retained earnings 350 95 Revaluation surplus 120 Share capital 1000 600 Liabilities 730 Accounts payable 2360 860 Loans Assets Cash Accounts receivable Land Plant Investment in Sted 200 60 600 22.60 40 250 Elimination Entry: Consolidation Worksheet Elimination and BLtd S Led adjustments 5000 5000 Cr. Statement of Comprehensive income Profit before tax 300 100 Consolidated statement 5000 Dr. Tax (100) (30) 200 70 200 100 400 170 Profit after tax Retained earnings at 1 July 2018 Statement of financial position Shareholders equity Retained earnings at 30 June 2019 Share capital Revaluation surplus Current liabilities Accounts payable Non-current liabilities Loans 1000 200 300 200 60 40 600 250 2 360 860 80 45 350 95 Current assets Cash Accounts receivable Non-current assets Land Plant Investment in S Ltd Goodwill 200 120 1 000 600 730 2 360 860