On 1 January 2019, Barrack limited acquired 80% of Northerns limited equity shares by means of an immediate share exchange and a cash payment of 88 cents per acquired share, deferred until 01 January 2020. Barrack limited has recorded the share exchange, but not the cash consideration. Barracks limited cost of capital is 10% per annum.

The summarised statements of financial position of the two companies as at 31 December 2019 were as follows:

	Barrack ltd	Northern ltd
	$000	$000
Assets Non-current assets
Property, plant and equipment	38 100	28 500
Investments Northern	24 000
Carry at cost (note (4))	6 000
Loan notes (note (2))	2 500
Other equity (note (5))	2 000	Nil
	72 600	28 500
Current assets
Inventory (note (3))	13 900	10 400
Trade receivables (note (3))	11 400	5 500
Bank (note (3))	900	600
Total assets	98 800	45 000
Equity and liabilities Equity
Equity shares of $1 each	25 000	10 000
Share premium	17 600	Nil
Retained earnings at 1 January 2019	16 200	18 000
for year ended 31 December 2019	14 000	8 000
	72 800	36 000
Non-current liabilities
11% loan notes (note (2))	12 000	4 000
Deferred tax	4 500	Nil
Current liabilities (note (3))	9 500	5 000
Total equity and liabilities	98 800	45 000

The following information is relevant:

a). At the date of acquisition, Barrack conducted a fair value exercise on Northerns net assets which were equal to their carrying amounts with the following exceptions:

1. An item of plant had a fair value of $3 million above its carrying amount. At the date of acquisition it had a remaining life of five years. Ignore deferred tax relating to this fair value.
2. Northern had an unrecorded deferred tax liability of $1 million, which was unchanged as at 31 December 2019

Barracks policy is to value the non-controlling interest at fair value at the date of acquisition. For this purpose a share price for Northern of $350 each is representative of the fair value of the shares held by the non-controlling interest.

b). Immediately after the acquisition, Northern issued $4 million of 11% loan notes, $25 million of which were bought by Barrack. All interest due on the loan notes as at 31 December 2019 has been paid and received.

c). Barrack sells goods to Northern at cost plus 50%. Below is a summary of the recorded activities for the year ended 31 December 2019 and balances as at 31 December 2019:

Barrack Northern

$000 $000

Sales to Northern 16 000

Purchases from Barrack 14 500

Included in Bows receivables 4 400

Included in Northerns payables 1 700

On 26 December 2019, Barrack sold and dispatched goods to Northern, which Northern did not record until they were received on 2 January 2020. Northerns inventory was counted on 31 December 2019 and does not include any goods purchased from Barrack

On 27 December 2019, Northern remitted to Barrack a cash payment which was not received by Barrack until January 2020. This payment accounted for the remaining difference on the current accounts.

d) Barrack bought 15 million shares in Carry on 1 October 2019; this represents a holding of 30% of Carrys equity. At 31 December 2019, Carrys retained profits had increased by $2 million over their value at 1 October 2019. Barrack uses equity accounting in its consolidated financial statements for its investment in Cube.

e). The other equity investments of Barrack are carried at their fair values on 1 January 2019. At 31 December 2019, these had increased to $28 million.

f). There was no impairment losses within the group during the year ended 31 December 2019.

1. What is the amount of the Net Assets in the subsidiary at aquisition date in N$ millions

2. What is the total amount of the consideration transferred to acquire the investment in the sunsidiary in N$ millions

3. What is the total amount of NCI at the aquisition date in N$ millions?

4. What is the goodwill to be recognised in the subsidiary at the aquisition date in N$ millions