ACCT -Anigamct- Dealie Stenben 1L Submit hard copy in the class on Monday 11 December Below are the Balance Sheets of Alpha, Beta and Gamma Ltd for the year to 31 December 2007 Gamma AlphaBeta 450 300 80 50 Plant Assets Investment in: 153 50 30 40 170 197 110 180 1330 200 95 348 40 A/R Cash Total Assets 14 A/P 100 Share capital Retained earnings Total liabilities and equity 430 1330 200 10856 348 170 Alpha bought 75% of the share capital of Beta on 1/1/2006 when Beta's retained earnings were 60 Alpha bought 80% of the share capital of Gamma on 1/1/2007 when Gamma's retained earnings were 32. i) i) The inventory of Alpha includes inventory bought from Beta for 50. Beta sold this inventory at cost plus a 25% mark-up. All the inventory remains unsold by Alpha. iv) In 1/1/2007, Alpha sold a plant asset to Beta for 80. It had originally purchased it in 2001 for 100. It used straight-line depreciation based on a life of ten years (including full year depreciation in year of purchase). Beta depreciates this asset over its remaining life using straight line method. v) The A/R of Alpha includes 10 due for Beta. Beta paid back this amount on 22 December 2007, but Alpha has not entered this into its accounts yet. The goodwill on the acquisition of Gamma has been impaired by an estimated 50% in 2007. v) Required