Mammoth Ltd acquired 80 percent share capital of Tinny Ltd. On 1 July 2021, for a cost of $1600000. As at the date of acquisition, all assets and liabilities of Tinny Ltd were fairly valued except land that has a carrying value of $150000 less than the fair value. The recorded balance of equity of Tinny Ltd as of 1 July 2021 was as: Share capital $800000 Retained earnings $200000 Revaluation surplus $400000 .. Total $1400000 Additional information