On 1 Jan 2020, Uptown Ltd acquired a 40% stake in Downtown Ltd for $220,000 cash. At the time of the acquisition, Downtown's share capital was $300,000, its retained earnings were $200,000, and all its assets and liabilities were fairly valued. Below are the summarized financial statements of Downtown Ltd for the years ended 31 Dec 2020 and 2021. Downtown did not pay any dividends during 2020 and 2021. FYE 31 Dec ($'000) 2020 2021 Profit & Loss Statement: Revenues 1,400 1,550 Expenses (1,650) (1,900) Net Profit (Loss) after tax (250) (350) Balance Sheet: Cash Other assets Total Assets 210 170 1,800 1,700 2,010 1,870 Total Liabilities Share capital 1,760 1,970 300 300 Retained earnings (50) (400) Liabilities & Equity 2,010 1,870 Required: 1) Compute the Goodwill implicit in the acquisition of Downtown Ltd. Is this Goodwill amount separately reported under the equity method of accounting for investments in associates? 2) Compute the carrying amount of the investment in Downtown that would be reflected in Uptown's books as at 31 Dec 2020 and 2021 under the equity method of accounting for investments in associates.