On 1 July 2014 Fred Ltd acquired 30% of the shares of Barney Ltd for S240 000. At that date, the equity of Barney Ltd was $800 000, with all identifiable assets and liabilities being measured at fair value Profits/(losses) made since the date of acquisition are as follows: Year ended 30 June Profit/(Loss) 2015 2016 (360 000) (500 000) 15 000 44 000 2017 2018 2019 There have been no dividends paid or movements in reserves since the date of acquisition. At 30 June 2016 the equity accounted balance of the investment in Barney was