Kim Ltd acquired on 1 July 2019 all the issued shares (cum div.) of David Ltd for $33000. At this date, the equity of David Ltd was as follows. Share capital $20000 General reserve 2000 Retained earnings 5000 All the identifiable assets and liabilities of David Ltd were recorded at amounts equal to their fair values except for the following. Carrying amount Fair value Plant (cost $22000) $18000 $18 600 Land 19000 21000 Inventories 2000 2 800 The plants expected remaining useful life was 5 years with benefits being expected evenly over that period. The plant was sold on 1 January 2022 for $18 700. The land was sold in February 2021 for $25000. Of the inventories, 90% were sold by 30 June 2020 and the rest by 30 June 2021. On 1 July 2019, David Ltd recorded a dividend payable of $1000 that was paid in September 2019. David Ltd also had some unrecorded assets, in particular the brands relating to the clothing sold in the teenage market. Kim Ltd valued these brands at $1 200 and assessed them to have an indefinite life. All transfers to the general reserve made by David Ltd have been from retained earnings earned prior to 1 July 2019. The tax rate is 30%. The financial information provided by the two companies at 30 June 2022 is as follows. Kim Ltd David Ltd Revenues $19000 $11000 Expenses (8000) (7 600) 11000 3 400 Gains on sale of non-current assets 500 400 Profit before tax 11 500 3 800 Income tax expense (4000) (600) Profit for the year 7 500 3 200 Other comprehensive income Ga Gains on revaluation of plant 1 200 0 Comprehensive income for the year $8 700 $3 200 Profit for the year $7 500 $3 200 Retained earnings (1/7/21) 8000 8 800 15 500 12 000 Dividend paid (3 400) 0 Transfer to general reserve 0 (1 500) (3 400) (1 500) Retained earnings (30/6/22) $12 100 $10 500 Share capital $28 000 $20 000 General reserve 2 000 4 800 Asset revaluation surplus 2 400 0 Retained earnings 12 100 10 500 Total equity 44 500 35 300 Provisions 1 500 1 200 Payables 4 000 800 Total liabilities 5 500 2 000 Total equity and liabilities $50 000 $37 300 Cash $1 200 $3 000 Accounts receivable 2 800 1 200 Inventories 3 000 5 100 Plant 23 000 32 000 Accumulated depreciation plant (12 000) (4 000) Shares in David Ltd 32 000 0 Total assets $50000 $37 300 Required 1. Prepare the acquisition analysis at 1 July 2019. 2. Prepare the consolidation worksheet entries for Kim Ltds group at 30 June 2022.