A. Prepare consolidated entries for the year ending 30/06/2022

B. prepare consolidated balance sheet

C. Prepare consolidated Income statement

Bruno Ltd acquired 100\% interest in Mars Ltd on 1 January 2021. Consideration consisted of $300,000 in cash and 10,000 shares with a fair value price of $50 per share. At that date, Mars Ltd.'s equity consisted of share capital of $100,000, retained earnings of $250,000 and asset revaluation surplus of $60,000. On the date of the acquisition, all assets and liabilities were equal to fair value except for the following: (a) Mars Ltd had inventories recorded for $200,000 which had a fair value of $440,000. These inventories were sold to external parties by 30 June 2022 for $550,000. (b) Mars Ltd's buildings had a fair value of $700,000. This asset has a remaining life of 20 years. Mars's balance sheet disclosed the following balances on acquisition date: Additional information: - Mars Ltd has existing goodwill recorded - refer worksheet. - The corporate tax rate is 30%. The following intra-company transactions have occurred since acquisition date: a) On 15 March 2021, Bruno Ltd sold inventory to Mars Ltd for $750,000, recording a before-tax profit of $55,000. By 30 June 2021 , a stock take recorded 100% of this inventory still on hand for Mars Ltd. However, by 30 June 2022 all inventory was sold to external parties for $950,000. b) During the year ended 30 June 2022 , Mars Ltd declared a final dividend of $20,000. This was paid on 30 November 2022. c) On 28 February 2022 , Mars Ltd purchased goods for $320,000 from Bruno Ltd. This inventory had originally cost Bruno Ltd $270,000. As at 30 June 2022,10% of inventory was still on hand. d) On 1 April 2022 Mars Ltd borrowed $100,000 from Bruno Ltd. Interest is charged annually at a fixed rate of 7%. The last interest payment was made on 31 May 2022. Both companies record accruals