Big Parent Ltd acquired 60% of the equity in Sub Ltd for $7 200 000 on 1 April 2014. At the date of acquisition, the equity of Sub Ltd consisted of Share capital of $7 000 000 and Retained profits of $1 520 000. Because Sub Ltd uses the cost model for its recognised property, plant and equipment, it had several items whose book values were lower than fair values at the date of acquisition. The following table lists the identified assets and liabilities at their book values and fair values as at the date of acquisition: As at the date of acquisition: At book value: Land and building $2 080 000 At fair value: $3 000 000 Land 2 500 000 4 200 000 Equipment 1 998 000 2 200 000 Other assets 3 900 000 Intangible assets 3 400 000 890 000 Liabilities 1958 000 1 958 000 Contingent liabilities 340 000 Required: (a) Prepare a 100% acquisition analysis to determine the total amount of goodwill in Sub Ltd. (b) Prepare the notional journal entry, as at 31 March 2021, to eliminate the Big Parent Ltd asset 'Investment in Sub Ltd' and to eliminate the parent's portion of equity in the Sub Ltd, in accordance with NZ IFRS 10 Consolidated Financial Statements and NZ IFRS 3 Business Combinations. (c) Explain, by referring to relevant accounting standards, why the Group recognised the Sub related contingent liability in the Group Statement of Financial Position but Sub Ltd did not recognise it in its Statement of Financial Position. (d) Who will receive the acquisition consideration of $7 200 000?