The following data will be used for questions 5 to 9 inclusive: On 1 July 2017 Queen Victoria Markets (QVM) Ltd purchased 86 per cent of the issued capital of Albert Park Ltd for a cash consideration of $19 000 000. At acquisition date, the equity balances of Albert Park Ltd were as follows: Share capital (ordinary shares) Revaluation surplus Retained earnings $13 000 000 $ 1430 000 $2 800 000 $17 230 000 Queen Victoria Markets (QVM) Ltd uses the partial goodwill method when calculating the non-controlling interest share of goodwill. The following information relates to the year ended 30 June 2020: i. During the year ended 30 June 2019, Albert Park Ltd declared and paid a dividend of $150,000. No dividend was paid in 2018. ii. For the first time on 30 June 2018, Albert Park Ltd revalued a parcel of land, increasing its value by $30,000. iii. Albert Park Ltd sold inventory to Queen Victoria Markets Ltd for $500,000. This inventory cost Albert Park Ltd $310,000. At 30 June 2020, Queen Victoria Markets Ltd was still holding 20% of this inventory. iv. On 30 June 2020 Albert Park Ltd paid interest of $4,140 to Queen Victoria Markets Ltd on an intra-group loan of $180,000 that was entered into on 30 June 2019. v. On 30 June 2020, it was decided that the goodwill on acquisition had been impaired by $80,000. In the previous year, impairment of goodwill amounting to $60,000 had been recorded as part of the consolidation process. vi. On 1 July 2019, Albert Park Ltd sold machinery to Queen Victoria Markets Ltd for $576,000. The machinery had been purchased by Albert Park Ltd for $840,000 on 1 July 2017 and was being depreciated on a straight-line basis over 6 years with no residual value. Consistent with the original estimate, Queen Victoria Markets Ltd depreciates the asset over the remaining 3 years of its effective life on a straight-line basis with no residual value. vii. Both Queen Victoria Ltd and Albert Park Ltd use the perpetual method to account for inventory. Albert Park Ltd's share capital at 30 June 2020 is $13 000 000. viii. The company tax rate is 27.5 per cent. The following figures were extracted from the consolidation worksheet for the year ended 30 June 2020: Profit after tax for the year Add opening retained earnings Less dividends paid Closing retained earnings QVM Ltd $ 970 000 220 000 1 190 000 160 000 1 030 000 Albert Park Ltd 490 000 1 110 000 1 600 000 100 000 1 500 000 Required Prepare an acquisition analysis for the Queen Victoria Markets Ltd Group for the year ending 30 June 2020.