on 01 July 2020, Sunshine Manufacturing Ltd acquired al the issued shares of Goldcoast Lid for 227000 The equity of Goldcoast at this date is as follows: Share capital 65000 Retained earnings 36000 All the identifiable assets and abilities of Goldcoast Lid were recorded at amounts equal to their fair values at acquisition date except for Inventory Equipment (the cost is: Carrying amount 17000 22000 Fair value 17800 22500 35000) 5 years The equipment was considered to have a further useful life: of the inventory 75% was sold by 30 June 2021 The folowing information was provided by the two comparies at 30 June 2021. Profit before tax Income tax expense Profit for the year Retained earrings (01/07/2020) Retained earnings (c30/06/2021) Share capital Retained earnings General reserve Asset revaluation surplus liabilities Sunshine Goldcoast 112000 12500 56000 4200 64000 8300 80000 36000 144000 44300 360000 65000 144000 44300 10000 0 18500 0 128500 22000 661000 131300 129000 20000 360000 125600 - 110000 -33000 55000 18700 227000 0 661000 131300 Land Plant and Equipment Accumulated depreciation Inventory Investment in Goldcoast In addition, there are some intra-group transactions between Sunshine and Goldcoast shown below. a. During the year, Sunshine sold inventory costing 3500 to Goldcoast for 4200. At the end of the year, 30% of the inventory is still held on hand by Goldcoast b. on 1 January 2021, Goldcoast sold a plart to Sunshine. The plant has carrying amount of 110,000. Tomson sold it to Sunshine for 125,000 The remaining useful life is estimated to be 5 years. Required Prepare the Acquisition analysis and consolidated financial statements of Sunshine Manufacturing Lid at 30 June 2021 using consolidation worksheet