Melbourne Ltd acquired 90% interest in Geelong Ltd on 1 July 2021 for $300,000. At that date, Geelong Ltd's equity consisted of share capital of $190,000 and retained earnings of $60,000. All the identifiable net assets of Geelong Ltd were recorded at amounts equal to fair value. NCI fair value is $30,000.

Geelong Ltd reported a profit after tax of $900,000 for the year ended 30 June 2022.

The tax rate is 30%.

Required:

a) Calculate goodwill using the Full goodwill method.

b) Prepare the consolidation worksheet entries at 30 June 2022. Narrations are not required. Show your workings.