information On 1/7/16, Mullum Machinery Pty Ltd purchased all the shares in Byron Machinery Pty Ltd for $225,000 cash. An extract of Byron Machinery Pty Ltd balance sheet on 1/7/17 showed Shareholder's equity of $205,000 comprising Issued S Byron Machinery Pty Ltd paid a dividend of $25,000 from pre-acquisition profits on 1/8/16 Mullum Machinery Pty sold $35,000 worth of goods to Byron Machinery Pty during the year ended 30/6/17 During the same year Mullum Machinery Pty Ltd had sold $11,000 worth of goods to Byron Machinery Pty Ltd. As at 30/6/17, Mullum Machinery Pty Ltd had $10,000 worth of goods on hand. The profit on these goods was $3,000. As at 1/7/17, Mullum Machinery Pty Ltd had $6,000 worth of goods purchased from Byron Machinery Pty Ltd which Byron Mac Mullum Machinery Pty Ltd purchased 8% debentures in Byron Machinery Pty Ltd for $200,000 Byron Machinery Pty Ltd was liable to pay Debenture interest on 31/12 and 30/6 each year During the year Byron Machinery Pty Ltd paid $15,000 as interim dividend to Mullum Machinery Pty Ltd On 30/6/17, Byron Machinery Pty Lid announced a dividend of $30,000. Mullum Machinery Pty included it in accrued income Byron Machinery Pty Lid paid a management fee of $35,000 to Mullum Machinery Pty Ltd On 30/6/17, Byron Machinery Pty Ltd purchased a plant costing $120,000 from Mullum Machinery Pty Ltd. The plant was depr