Numbat Ltd owns all of the shares of Goanna Ltd. In relation to the following intragroup transactions, all parts of which are independent unless specified, prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at 30 June 2016.

Assume an income tax rate of 30%.

(b) On 1 January 2014, Goanna Ltd sold a new tractor to Numbat Ltd for $30 000. This had cost Goanna Ltd $24 000 on that day. Both entities charged depreciation

at the rate of 10% p.a. on cost.

(c) On 1 July 2015, Numbat Ltd sold an item of machinery to Goanna Ltd for $9000. This item had cost Numbat Ltd $6000. Numbat Ltd regarded this item as inventory whereas Goanna Ltd intended to use it as a non-current asset. Goanna Ltd charges depreciation at the rate of 10% p.a. on cost.

(d) In February 2015, Numbat Ltd sold inventory to Goanna Ltd for $9000, at a profit of $1500. One-quarter of this inventory was unsold by Goanna Ltd at 30 June 2015.