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:

required: