At 1 July 2014, Pavo Ltd acquired 60% of the shares of Octans Ltd for 153,000 on a cum div. basis. Pavo Ltd had acquired 40% of the shares of Octans Ltd 2 years earlier for 80,000. This investment, classified as a financial asset, was recorded using the equity method on 1 July 2014 of 102,000. At 1 July 2014 , the equity of Octans Ltd consisted of: At this date, the identifiable assets and liabilities of Octans Ltd were recorded at fair value except for: At 1 July 2014, Octans Ltd's assets and liabilities included a dividend payable of 5,000 and goodwill of $6,000. An analysis of the unrecorded intangibles of Octans Ltd revealed that the company had unrecorded internally generated brands, considered to have a fair value of 50,000. Further, Octans Ltd had expensed research outlays of 80,000 that were considered to have a fair value of 20,000. In its financial statements at 30 June 2014, Octans Ltd had reported a contingent liability relating to-a potential claim by customers for unsatisfactory products, the fair value of the claim being 10,000. The tax rate is 30%. Required 1. Prepare the acquisition analysis at 1 July 2014 , and the consolidation worksheet entries for preparation of consolidated financial statements of Pavo Ltd at 1 July 2014