Consolidation Worksheet Adjustment Entries (10 marks) On 1 July 2020, Dark Ltd acquired all the issued shares of Sam Ltd for $425000. At that date, the equity of Sam Ltd was recorded at:
	Share Capital	$150,000
	Retained earnings	$125,000
	Reserves	$70,000
All the assets and liabilities of Sam Ltd were recorded at amounts equal to their fair values at the acquisition date, except ;
		Carrying Amount	Fair value
	Patent	27500	35000
	Inventory	14500	22500
	Equipment (cost:$60000)	55000	65000
Required: 1. Prepare the acquisition analysis at 1 July 2020. (1.5 marks) 2. Prepare the consolidation worksheet entries for Darka Ltds group at 1 July 2020. (8.5 marks)