On 1 July 2019, Adelaide Ltd acquired 75% of the issued shares of Canberra Ltd for $720,000. At this date, the equity of Canberra Ltd consisted of share capital of $400,000 and retained earnings of $210,000. All the identifiable assets and liabilities of Canberra Ltd were recorded at amounts equal to fair value except for the following.

Carrying Amount	Fair value
Machine (cost $50,000)	20,000	24,000
Plant (cost $400,000)	200,000	280,000
Inventories	50,000	66,000

Canberra Ltd also had an internally generated patent not recognised at 1 July 2019. Adelaide Ltd assessed the fair value of that patent at $80,000. The tax rate is 30%.

Required

1. Prepare the acquisition analysis at 1 July 2019 assuming that Adelaide Ltd used the full goodwill method and the fair value of the non‐controlling interest at 1 July 2019 was $220,000. (15 marks)
2. 
   
3. Calculate the Control premium for the parent. (5 marks)