Consolidated Entity $'000 6.930 1,280 5,190 1.130 ? ? 275 207 253 ? 304 7 835 (57) (121) 1,208 Consolidation worksheet for financial year ended 30 June 2021 Chandler Joey Adjustments Ltd Ltd Debit Ref Credit $'000 $'000 $'000 $'000 Sales revenue 4,620 2.840 530 f Less cost of roods sold Opening inventories 680 630 i 30 Add purchases 3,600 2,120 f 530 Less closing inventories 710 440 20 5 Cost of goods sold 3.570 2.310 Gross profit 1,050 530 Dividend revenue 88 0 88 Management tee revenue 35 0 35 udgement d Interest revenue 0 9 9 e Depreciation expense 160 125 1 10 Finance costs 181 35 e 9 Other expenses 204 49 35 c/d 35 Profit before tax 628 330 Tax expense 201 97 12 i/8/1 6 Profit after tax for the year 427 233 Retained earnings 1 July 2020 705 429 337 b/i/1 38 Dividends paid (57) (32) 32 Dividends declared (121) (56) j 56 Retained earnings 30 June 954 574 2021 Issued capital 800 350 350 b Revaluation surplus 210 0 Fair value adjustment 56 b/a 56 Shareholders' equity 1,964 924 Assets Cash 78 117 Accounts receivable 72 35 h 25 Dividends receivable 56 0 k 56 Inventories 710 440 5 20 Investment in Joey Ltd 750 0 b 750 Loan to Chandler Ltd 0 150 150 Land 720 250 80 Buildings 1,500 780 Accumulated depreciation (320) (494) Plant and equipment 850 450 25 1 Accumulated depreciation (235) (210) 30 1 85 Goodwill(net) 94 b/c 35 Deferred tax asset 24 5/1 9 Total assets 4,181 1,518 Less liabilities Current taxes payable 111 87 Accounts payable 292 50 25 h Albuns Dividend payable 121 56 56 k Loan from Joey Ltd 150 0 150 Mortgage loan 1,253 401 Deferred tax liabilities 290 0 a a 24 Net assets 1,964 924 1,956.00 1,956.00 800 210 ? 195 82 1,130 e a 1,050 2,280 1814) 1,325 (500) 59 15 4,822 198 317 121 1,654 314 ? Which of the following may qualify Chandler Ltd to be regarded as the parent of Joey Ltd: O a. Chandler Ltd owns a majority of the non-voting preference shares in Joey Ltd. O b. Chandler Ltd and Joey Ltd have similar directors on the board of directors. O c. Goodwill arising on consolidation is determined as the difference between the fair value of the consideration paid / transferred and the face value of the consideration provided to former shareholders of Joey Ltd. O d. Chandler Ltd controls the majority of the votes at Joey Ltd's shareholder meetings