On 1 July 2022, Dean Ltd acquired all the issued shares of Lewis Ltd for a cash consideration of $1000000. At that date, the financial statements of Lewis Ltd showed the following information.

Share capital $650000 General reserve 20000 Retained earnings 250000

All the assets and liabilities of Lewis Ltd were recorded at amounts equal to their fair values at the acquisition date, except some equipment recorded at $50000 below its fair value with a related accumulated depreciation of $80000. Also, Dean Ltd identified at acquisition date a contingent liability related to a lawsuit where Lewis Ltd was sued by a former supplier and attached a fair value of $40000 to that liability.

Required

a) Prepare the acquisition analysis at 1 July 2022. b) Prepare the consolidation worksheet entries for Dean Ltds group at 1 July 2022, assuming that Lewis Ltd has not revalued the equipment in its own accounts. c) Prepare the consolidation worksheet entries for Dean Ltds group at 1 July 2022, assuming that Lewis Ltd has revalued the equipment in its own accounts.