At 1 July 2015, Great Ltd acquired 60% of the shares of Frogmouth Ltd for $153 000 on a cum div. basis. Great Ltd had acquired 40% of the shares of Frogmouth Ltd 2 years earlier for $80000. This investment, classified as a financial asset, was recorded at a fair value on 1July2015 of $102 000. The changes in fair value had all been taken to profit or loss. At 1July2015, the equity of Frogmouth Ltd consisted of:

Share capital

$160 000

Retained earnings

40 000

At this date, the identifiable assets and liabilities of Frogmouth Ltd were recorded at fair value except for:

Carrying amount

Fair value

Inventory

$ 40 000

$ 44 000

Plant (cost $120 000)

100 000

105 000

At 1 July 2015, Frogmouth Ltd's assets and liabilities included a dividend payable of $5 000 and recorded goodwill of $6000. An analysis of the intangibles of Frogmouth Ltd revealed that the company had unrecorded internally generated brands, considered to have a fair value of $50 000. Further, Frogmouth 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 2015, Frogmouth 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

Prepare the acquisition analysis at 1 July 2015, and the consolidation worksheet entries for preparation of consolidated financial statements of Great Ltd at that date.