Apps Activity S2A1: Probl..bg QUESTION 2 (7 MARKS) Swamp Ltd acquired 90% of the shares of Tortoise Ltd on 1 July 2015 for $237 000. At this date, the equity of Tortoise Ltd consisted of: 125 000 30 000 Share capital Asset revaluation surplus Retained earnings 80 000 At acquisition date all the identifiable assets and liabilities of Tortoise Ltd were recorded at amounts equal to fair value. At 1 July 2015, the fair value of the non-controlling interest was $25 000 and Swamp Ltd adopts the full goodwill method. At 30 June 2017, the equity of Tortoise Ltd consisted of: 100 000 Share capital Asset revaluation surplus 40 000 Retained earnings 110 000 During the 2016-17 year Tortoise Ltd recorded a profit of $20 000. Required. Prepare acquisition analysis