On 1 January 20X0, Linda Ltd acquired 100 % of the share capital of Yoko Ltd for $900,000 cash. At that date, the equity section of Yoko Ltds balance sheet was as follows: $ Share capital 900,000 Retained profits 400,000 Asset revaluation reserve 300, 000 Assuming all assets and liabilities were recorded at their fair values what will be the effect of the acquisition on the financial statements? Select one: Goodwill will be increased by $700,000 in Linda Ltd. separate statements. Goodwill will be increased by $400,000 in Yoko Ltd. separate statements. Bargain purchase will be increased by $700,000 in the Linda Group consolidated statements. Bargain purchase will be increased by $700,000 in Linda Ltd. separate statements.