On 1 July 2019, Alpha Ltd acquired 80% of the shares (ex div.) of Beta Ltd for $285 000. The NCI owns the remaining 20% of the shares in Beta Ltd. At this date the shareholders' equity of Suburb Ltd consisted of:

Share capital $150 000

Retained earnings 75 000

General reserve 60 000

At this date, all the identifiable assets and liabilities of Suburb Ltd were recorded at amounts equal to their fair values except for the following:

Carrying amount ($) Fair value

Patents 100 000 118 000

Machinery(cost $140 000) 110 000 130 000

Required: Prepare the acquisition analysis at 1 July 2019, assuming thefullgoodwill method is used. The NCI in Beta Ltd had a fair value of $70 320.