On 1 July 2020, Sugar Ltd acquired 89% of the shares of Glider Ltd for $690,000. At this date, the equity of Glider Ltd consisted of; Share Capital: $350,000 Retained earnings: $125,000 General reserve: $100,000 all the identifiable assets and liabilities of Glider Ltd were recorded at amounts equal to fair value except for: Patent Inventory Carrying Amount 55,000 Fair Value 70,000 40,000 60,000 The tax rate is 30%. partial goodwill method is in use. Required: 1. Acquisition analysis at 1 July 2020 (1.5 Marks) 2. Business combination valuation entries at 1 July 2020 (3 Marks) 3. Pre-acquisition entries at 1 July 2020 (3 Marks) 4. NCI share of equity at acquisition date 1 July 2020 (2.5 Marks)