Financial information at 30 June 2016 of Starr Ltd and its subsidiary company, Lennon Ltd include that shown below.

At 1 July 2013, the date Starr Ltd acquired its 80% shareholding in Lennon Ltd, all the identifiable assets and liabilities of Lennon Ltd were at fair value except for the following assets:

\fFinancial Information at 30 June 2016 Sales revenue Other revenue: Debenture interest Management and consulting fees Dividend from Lennon Ltd Total revenues Cost of sales Manufacturing expenses Depreciation on plant Administrative Financial Other expenses Total expenses Prot before tax Starr Ltd Lennon Ltd $316,000 $220,000 5,000 5,000 412,000 - 338 000 220 000 130,000 85,000 90,000 60,000 15,000 15,000 15,000 8,000 11,000 5,000 14,000 12,000 _215.0_0_Q _l5.D_0_Q 36,000 35,000 Income tax expense Prot Retained earnings (1/07/15) Transfer to general reserve Interim dividend paid Final dividend declared Retained earnings (30/06/16) General reserve Other components of equity Share capital Debentures Current tax liability Dividend payable Deferred tax liability Other liabilities Financial assets Debentures in Lennon Ltd Shares in Lennon Ltd Plant (cost) Accumulated depreciation plant Other depreciable assets Accumulated depreciation Inventory Deferred tax asset Land Dividend receivable Starr Ltd Lennon Ltd _(25.0_0_Q) _(11.0_0_Q) 38,000 18,000 50 000 45 000 M _63.0_0_0 3,000 - 10,000 10,000 _10.0_00 _5.0_0_0 23,000 15,000 65,000 48,000 50,000 10,000 13,000 10,000 300,000 100,000 200,000 100,000 25,000 17,000 10,000 5,000 - 7,000 _9_0.0_0_Q _12.0_0_0 $ 753,000 $ 309,000 50,000 60,000 100,000 - 131,600 - 120,000 102,000 (65,000) (55,000) 76,000 55,000 (40,000) (25,000) 90,000 85,000 85,400 30,000 201,000 57,000 4,000 - $ 753,000 $ 309,000