As part of a corporate expansion plan, Stavanger Ltd acquired 100% share capital (cum- dividend) of Askoy Ltd on 1 July 2020 for $138 000 cash. The statement of financial position of both companies at 30 June 2020 was as follows: Stavanger Ltd Askoy Ltd Share capital 180 000 80 000 Retained earnings 82 000 45 000 Total equity $262 000 $125 000 Provisions 88 000 27 000 Dividend payable 20 000 10 000 Total liabilities $108 000 $37 000 Total equity and liabilities $370 000 $162 000 Cash 150 000 10 000 Accounts receivables 40 000 25 000 Land 55 000 42 000 Plant 190 000 100 000 Accumulated depreciation (65 000) (15 000) Total assets $370 000 $162 000 All identifiable assets and liabilities of Askoy Ltd were recorded at fair value as at 30 June 2020 except for the following: Carrying amount Fair value Land Plant (cost $100 000) $42 000 $85 000 $45 000 $90 000 3 The plant is expected to have a further useful life of 5 years. The dividend payable at 1 July 2020 was paid in October 2020. A dividend of $15 000 was declared on 30 June 2021 out of profits earned before 1 July 2020. The company tax rate is 30%. Required: (a) Complete the acquisition analysis and prepare the consolidation worksheet journal entries, the consolidation worksheet and the consolidated statement of financial position for Stavanger Ltd and its subsidiary Askoy Ltd as at 1 July 2020