in Virgo. Costs incurred in undertaking the acquisition amounted to $10000. At 1 Jan 2018 , the statement of financial position of Virgo Ltd was as follows: criteria. External valuer estimate the fair value of this trademark to be $20000. It was assumed to have a 4 -year life. The tax rate is 30%. Required 1. Show the journal entries in the separate financial statements of Sculptor Ltd and determine the cost of investment in 2. Calculate the goodwill or gain on bargain purchase for the acquisition of Virgo Ltd. 3. Prepare the consolidation entries for the preparation of consolidated financial statements at 1 Jan 2018. 4. Explain and justify if the internally developed trademark should be capitalized in the individual and group financial statements. 5. Prepare the consolidation entries for the preparation of consolidated financial statements at 31 Dec 2021. Remark: no consolidation spreadsheet is required