Non-Controlling Interest (NCI) (10 marks) On 1 July 2020, Sugar Ltd acquired 90% of the shares of Glider Ltd for $1242000. At this date, the equity of Glider Ltd consisted of; of Share Capital 630000 225000 Retained earnings General reserve 180000 all the identifiable assets and liabilities of Glider Ltd were recorded at amounts equal to fair value except for; Carrying Amount Fair value Patent $99,000 $126,000 Inventory $72,000 $108,000 The tax rate is 30%. partial goodwill method is in use. Required: 1. Acquisition analysis at 1 July 2020 (1.5 Marks) 2. Business combination valuation entries at 1 July 2020 (3 Marks) 3. Pre-acquisition entries at 1 July 2020 (3 Marks) 4. NCI share of equity at acquisition date 1 July 2020 (2.5 Marks)