On 1 July 2022, Ocean Ltd acquired 25% of the shares in Mountain Ltd for $900,000 cash, which gave Ocean Ltd significant influence over Mountain Ltd. Ocean Ltd does not prepare consolidated financial statements. The following information has been provided by Mountain Ltd for the financial year ended 30 June 2023: - Recorded a profit of $180,000 after tax. - Dividends paid $80,000. The following inter-entity transactions occurred between Ocean ltd and Mountain Ltd: - On 25 October 2022, Ocean Ltd sold inventories to Mountain Ltd for $900,000. The original cost was 700,000. Mountain Ltd sold all of this inventory externally by 30 June 2023. - On 5 june 2023, Ocean Ltd sold inventories to Mountain Ltd for $280,000. The original cost was $100,000, Mountain Ltd held all of this inventory on hold by 30 June 2023. - On 1 January 2023, Mountain Ltd sold a vehicle costing $140,000 to Ocean Ltd for $200,000. Remaining life of the vehicle was 5 years at the time of the sale. Ocean Ltd applies equity method for its investments per AASB 128/IAS 28. The tax rate is 30%. Required: a. Calculate the share of profit for Mountain Ltd. Show all workings. b. Prepare