Barry Ltd acquired all the issued shares of Colin Ltd on 1 January 2016 for $72 000. At this date the equity of Colin Ltd consisted of: Share capital $ 50 000 General reserve 12 500 Retained earnings 5 000 All the identifiable assets and liabilities of Colin Ltd were recorded at amounts equal to their fair values except for: Carrying amount Fair value Plant (cost $70 000) $50 000 $52 000 Inventory 12 000 16 000 Of the inventory on hand at 1 January 2016, 90% was sold by 30 June 2016. The remainder was all sold by 30 June 2017. The plant was considered to have a further 2- year life with benefits to be received equally in each of those years. The tax rate is 30%. Required: Prepare the consolidated worksheet entries for the consolidated financial statements prepared by Barry Ltd at 30 June 2016 and 30 June 2017.

i already got the answer of this question but could you please shoe me all the working of it?

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