Dolly Ltd negotiated with Teddy Ltd to acquire the business of Teddy Ltd, after which Teddy Ltd would go into liquidation. The acquisition date was 1 March 2021. At that date, Teddy Ltd reported the following: Assets Carrying amounts Fair Values 1 March 2021 1 March 2021 $ $ Cash 19 000 19 000 Accounts receivable (net) 70 000 70 000 Inventories 80 000 75 000 Land 153 000 210 000 Plant 260 000 182 000 Accumulated depreciation - plant (60 000). Total assets 522 000 Liabilities Accounts payable 47 500 47 500 Provision for employee benefits 20 500 22 500 Current tax liability 17 000 17 000 Bank Loan 70 000 70 000 Debentures (5%) 50 000 50 000 Total liabilities 205 000 Net assets $317 000 Equity Share capital ($1.50 ordinary shares) 240 000 Retained earnings 77 000 Total equity $317 000 Dolly Ltd agreed to acquire all assets (except for cash) and assume all liabilities (except for the accounts payable and bank loan) of Teddy Ltd. In exchange, Dolly Ltd would transfer the following to Teddy Ltd: A block of land valued at $170,000 on acquisition date (carrying amount on this date in Dolly Ltd accounts $155,000). Issue three (2) Dolly Ltd shares for every five (5) Teddy Ltd shares. Dolly Ltd shares are valued at $3.00 on acquisition date. Sufficient additional cash to that already held by Teddy Ltd, so that Teddy Ltd can pay off remaining liabilities and liquidation costs of $3,500. Required: a) Prepare an acquisition analysis for Dolly Ltd's acquisition of Teddy Ltd business on 1 March 2021. (10 marks) b) Prepare the necessary journal entries in the accounts of Dolly Ltd for the acquisition of Teddy Ltd on 1 March 2021