Non -current liabilities Loans 149,210 99,760 813,130 545,498 Current assets Accounts receivable 51,084 53,578 Inventory 79,120 24,940 Non -current assets Land and buildings 192,640 280,360 Plant -at cost 257,871 305,988 Accumulated depreciation (73,745) (119,368) Investment in Seven Ltd 306,160 813,130 545,498 Other information 1. Blake Ltd acquired its 80 per cent interest in Seven Ltd on 1 July 2010. At that date the capital and reserves of Seven Ltd were: Share capital $172,000 Retained earnings $146,200 $318,200 At the date of acquisition all assets were considered to be fairly valued. 2. The management of Blake Ltd use the partial goodwill method. 3. During the year Blake Ltd made total sales to Seven Ltd of $55,900, while Seven Ltd sold $44,720 in inventory to Blake Ltd. 4. The opening inventory in Blake Ltd as at 1 July 2018 included inventory acquired from Seven Ltd for $36,120 that cost Seven Ltd $30,100 to produce. 5. The closing inventory in Blake Ltd includes inventory acquired from Seven Ltd at a cost of $28,896. This cost Seven Ltd $24,080 to produce. The College of Business and Law ACT305 Corporate Accounting Semester 2, 2018 Page 4 of 5 6. The closing inventory of Seven Ltd includes inventory acquired from Blake Ltd at a cost of $10,320. This cost Blake Ltd $8,256 to produce. 7. The management of Blake Ltd believe that goodwill acquired was impaired by $2,580 in the year to 30m June 2019. The balance on the accumulated impairments of goodwill account brought fonlvard was $19,350. 8. On 1 July 2018 Blake Ltd sold an item of plant to Seven Ltd for $99,760 when its carrying value in Blake Ltd's accounts was $69,660 (cost $116,100, accumulated depreciation $46,440). This plant is assessed as having a remaining useful life of six years