Jonathan Ltd acquired all the issued shares (ex-div.) of Thomas Ltd on 1 July 2020 for $246 000. At this date the equity of Thomas Ltd consisted of:

Share Capital	$130,000
General Reserve	$50,000
Retained Earnings	$40,500

At the acquisition date all the identifiable assets and liabilities of Thomas Ltd consisted of:

	Carrying Amount	Fair Value
Plant (Cost $230,000)	$200,000	$210,000
Land	$100,000	$120,000
Inventories	$30,000	$38,000

The inventories were all sold by 30 June 2020. The land was sold on 1 February 2021 for $150 000. The plant was considered to have a further 5-year life. The plant was sold for $155 000 on 1 January 2022. Also, at acquisition date Thomas Ltd had recorded a dividend payable of $7000 and goodwill (net of accumulated impairment losses of $13 000) of $5000. Thomas Ltd had not recorded some internally generated brands that Jonathan Ltd considered to have a fair value of $12 000. The brand was considered to have an indefinite life. Also not recorded by Thomas Ltd was a contingent liability relating to a current court case in which Thomas Ltd was involved and a supplier was seeking compensation. Jonathan Ltd placed a fair value of $15 000 on this liability. This court case was settled in May 2022 at which time Thomas Ltd was required to pay damages of $16 000.

In February 2021, Thomas Ltd transferred $20 000 from the general reserve on hand at 1 July 2020 to retained earnings. A further $15 000 was transferred in February 2022.

Both companies have an equity account entitled 'Other components of equity' to which certain gains and losses from financial assets are taken. At 1 July 2021, the balances of these accounts were $30 000 (Jonathan Ltd) and $15 000 (Thomas Ltd). The financial statements of the two companies at 30 June 2022 contained the following information:

	Jonathan Ltd		Thomas Ltd
Revenues	90,000.00	64,000.00
Expenses	34,000.00	42,000.00
Trading Profit	56,000.00	22,000.00
Gain (losses) on Sale of Non-Current Assets	8,000.00	8,000.00
Profit before Tax	64,000.00	30,000.00
Income Tax Expense	12,000.00	5,000.00
Profit for the Period	52,000.00	25,000.00
Retained Earnings (1/7/21)	103,000.00	55,000.00
Transfer from General Reserve	30,000.00	15,000.00
	185,000.00	95,000.00
Dividend Paid	20,000.00	-
Retained Earnings (30/6/22)	165,000.00	95,000.00
Share Capital	150,000.00	130,000.00
General Reserve	10,000.00	20,000.00
Other Components of Equity	25,000.00	18,000.00
Total Equity	350,000.00	263,000.00
Accounts Payable	40,000.00	10,000.00
Deferred Tax Liability	18,000.00	10,000.00
Other Non-Current Liabilities	250,000.00	2,300,000.00
Total Liabilities	308,000.00	2,500,000.00
Total Equity and Liabilities	658,000.00	513,000.00
Plant	430,000.00	320,000.00
Accumulated Depreciation - Plant	- 182,000.00	- 220,000.00
Land	150,000.00	20,000.00
Brands	80,000.00	-
Shares in Thomas Ltd	246,000.00
Financial Assets	110,000.00	107,000.00
Cash	10,000.00	5,000.00
Inventories	40,000.00	30,000.00
Goodwill	20,000.00	18,000.00
Accumulated Impairment Loss	-	- 13,000.00
Total Assets	658,000.00	513,000.00

1. Complete the consolidated worksheet for 30 June 2022