ncial Accounting ACT204_Semester 1_2016 Other expenses Profit 2.85.32 111.837 1.4 14.1% Peters Retailers Pty Statement of financial Position compared with Industry Average as at 30 June 2016 Peters Industry Average Current assets I $406,800 70.9% Property, plant and equipment, net 151,200 23.6 Intangible assets, net 10,800 0.8 Other assets 31.200 Total assets $600,000 100.00% Current liabilities 278.400 48.1 Non-current liabilities 134,400 16.6 Shareholders' equity 187,200 35.3 Total liabilities and shareholders' equity $600,000 100.0% 1. Prepare a common-size income statement and statement of financial position for Peters. The first column of each statement should present Peters' common-size statement and the second column the industry averages, 21 Compare Peters' gross profit percentage and rate of return on net sales with the Industry averages, Is Peters' performance better or worse than the industry average? Company, 2020 ort....ris A MacBook Air QUESTION ONE (5 Marks) Alpha Ltd acquires 100 per cent of Beta Ltd on 1 July 2021. Alpha Ltd pays the shareholders of Beta Ltd the following consideration: Cash $70 000 plant and equipment fair value $250 000; carrying amount in the books of Alpha Ltd $170 000 Land fair value $300 000; carrying amount in the books of Alpha Ltd $200 000 There are also legal fees of $35 000 involved in acquiring Beta Ltd. On 1 July 2021 Beta Lid's statement of financial position shows total assets of $700 000 and liabilities of $300 000. The fair value of the assets is $800 000. Has any goodwill been acquired and, if so, how much? [Type Answer Here)