IV. Question four (25marks) Hand acquired 70% of the equity shares in Sand in a single transaction, paying $226 million in cash. At the acquisition date the fair value of the net assets of Sand was $220 million. The fair value of the non-controlling interest at this date was $69 million. At the acquisition date, Hand had $600 million of ordinary shares in issue and reserves of $800 million, and net assets of $1,400 million, including the investment in Sand at cost. It has no other subsidiaries. Required (amount in millions) 1. Calculate goodwill under partial goodwill method (7 marks). 2. Calculate goodwill under full goodwill method (8 marks). 3. Explain the reasons why difference of goodwill lies in between partial goodwill method and full goodwill method (10 marks).