On 01 July 2020. Winter Manufacturing Ltd acquired al the issued shares of Summer Ltd for $ 120000 The equity of Summer at this date is as follows: Share capital $ 75000 Retained eamings 26000 Asset revalution surplus 12000 Al the identifiable assets and liabilities of Summer Ltd were recorded at amounts equal to their fair values at acquisition date except for. Inventory Machine (the cost is: Carrying amount 30500 137000 Fair value 31500 138000 150000) 10 years The equipment was considered to have a further useful life: Of the inventory, 60% was sold by 30 June 2021. The folowing information was provided by the two companies at 30 June 2021. Profit before tax Income tax expense Profit for the year D Retained eamings (01/07/2020) Retained eamings (30/06/2021) Share capital Retained eamings General reserve Asset revaluation surplus liabilities Winter Summer 111000 85000 75000 24500 36000 60500 80000 26000 144000 86500 360000 75000 144000 86500 10000 0 10 18500 200 12000 128500 22000 661000 195500 250000 28000 350000 150000 - 114000 - 13000 55000 30500 500 120000 0 661000 195500 Land Plant and Equipment Accumulated depreciation inventory Investment in Summer In addition, there are some intra-group transactions between Winter and Summer shown below: a. During the year, Winter sold inventory costing 3200 to Summer for 5000. At the end of the year, 30% of the inventory is stil held on hand by Winter. b. on 1 July 2020, Winter sold a plant to Surmer. The plant has carrying amount of 88,000. Winter sold it to Summer for 90,000 The remaining useful life is estimated to be 5 years. Required Prepare the Acquisition analysis, Consolidation Adjustments, Worksheet and consolidated financial statements of Winter Manufacturing Ltd at 30 June 2021 using consolidation worksheet