D Un 1 July 2022, Brownie Ltd. acquired all the shares of Cookies Ltd for $160.000 cash On this date. Cookies Lamported the following balances: Share capital $103,000 Retained earnings $56,000 General Reserve $25.000 All accounts are measured at fair value at the date of acquisition, except some inventories which had a carrying amount of $10,000 below its fair value. All these inventories were unsold by Cookies Ltd. on 30 June 2023. The income tax rate is 30% Required: Question 5 A. What is the purpose of preparing consolidated financial statements? (5 marks) B. Prepare the acquisition analysis for consolidation purposes on 30 June 2023 (10 marks) C. Prepare the relevant journal entries for the consolidation worksheet on 30 June 2023. (10 marks) 20 pts