Alma Ltd acquired all the issued shares (ex div.) of Davis Ltd on 1 July 2018 for $2338998. At this date Davis Ltd recorded a dividend payable of $47000 and equity of the following Share capital 819000 Asset revaluation surpluss 351000 Retained earnings 281000 All the identifiable assets and liabilities of Davis Ltd were recorded at amounts equal to their fair values at acquisition date except for the following: Account Cost Carrying Amount $351,000 $702,000 $819,000 Further life- Fair value in Year $632,000 $1,264,000 $1,474,000 10 Inventories Land Furniture $983,000 of the inventories, 94% was sold by 30 June 2019. The remainder was sold by 30 June 2020. In May 2019, Davis Ltd transferred $140500 from the Retained earnings at 1 July 2018 to a Asset revaluation surpluss Tax rate: 30% Required 1. Prepare the acquisition analysis at 1 July 2018. 2. Prepare the consolidation worksheet entries for Alma Ltd's group at 30 June 2019. including supporting calculations