Answer the following:-

Question a Giant Ltd acquired 80 percent share capital of Expert Ltd. 0n 1 July 2018 for a cost of $1,600,000. As at the date of acquisition, all assets and liabilities of Expert Ltd were faidy valued except a land that has a carrying value $150.0!!! less than the fairvalue. The recorded balance of equity of Expert Ltd as at 1 July 2013 were as: Share capital $800,000 Retained earnings $200,000 General Reserve m Total $1,400,000 Additional information: I- The management of Giant Ltd values non~controlling interest atthe proportionate share of Expert Ltd Identiable net assets. Expert Ltd has a prot after tax of $200,000 for the year ended 301une 2019. During the financial year to 30 June 2019, Expert Ltd sold inventory to Giant Ltd for a price of $120,000. The inventory costs Expert Ltd $60,000 to produce. 25 percent oi the inventory are still on the hand of Gla nt Ltd as at 30 June 2019. 0 During the year Expert Ltd paid $60,0m in consultancy fees to Giant Ltd. 0 On 1 July 2018, Expert Ltd sold an item of plant to Giant Ltd $30000. The equipment had a carrying value of $60,000 [Cost $100,000,. accumulated depreciation $40,000). At the date of sale. it was expected that the equipment had a remaining life of 4 years and no residual value. 0 The tax rate is 30 percent. Required: a] Based on the above information, calculate the non-controlling interest as at 30 June 2019. hi Prepare the necessary journal entries to recognise the non-controlling interest as at 301une 2019