On 1 July 2018, Ma@ Ltd acquired all of the issued shares (cum div.) of Fowl Ltd. At this date, the equity of Fowl Ltd consisted of: At 1 July 2018, one of the liabilities of Fowl Ltd was a dividend payable of $10,000. This was paid on 1 September 2018. One of the assets recorded by Fowl Ltd was goodwill of $5,000. Mallee Ltd uses the partial goodwill method. At 1 July 2018, all the identifiable assets and liabilities of Fowl Ltd were recorded at amounts equal to their fair values except for: In relation to these assets: - The plant had an expected useful life of 4 years. - At 1 July 2018, subsequent to the acquisition of shares by Mallee Ltd, Fowl Ltd adopts the fair value basis of measurement for land. The land on hand at 1 July 2018 was sold by Fowl Ltd on 8 February 2020. On sale any related asset revaluation surplus is transferred to retained earnings. - The inventory was all sold by 30 June 2019. Additional information a. In June 2019 , Fowl Ltd transferred $8,000 from the general reserve existing at 1 July 2018 to retained earnings. There were no other transfers relating to the general reserve in 2018-19. b. At 30 June 2019 , Fowl Ltd recognised gains on revaluation of land of $6,000 in other comprehensive income for the period. c. In June 2019 , Fowl Ltd sold inventory to Mallee Ltd for $7000. This had originally cost Fowl Ltd $5,000.20% of this inventory remained unsold by Mallee Ltd at 30 June 2019. d. During the 2019-20 period, Fowl Ltd sold inventory to Mallee Ltd for $120,000. At 30 June 2020, Mallee Ltd holds inventory sold to it by Fowl Ltd for $20,000 which had cost Fowl Ltd $15,000. e. On 1 January 2019, Fowl Ltd sold an item of inventory to Mallee Ltd at a before tax profit of $5,000. This asset was classified as plant by Mallee Ltd and depreciated over a 5 -year period. f. The tax rate is 30%. g. Financial information provided by the companies at 30 June 2020 was as follows: Required: Prepare the Consolidation Worksheet Journal Entries for the preparation of consolidated financial statements by Mallee Ltd at 30 June 2020. Step 1: Acquisition analysis Step 2: Business combination valuation entries Step 3: Pre-acquisition entries Step 4: Intragroup transactions