On 1 July 2024, Babakin Ltd acquired all the issued shares of Moruya Ltd, paying $50 000 cash and transferring 100 000 of its own shares to Moruya Ltd's former shareholders. The fair value of Babakin Ltd's shares at acquisition date was $2 per share. At that date, the financial statements of Moruya Ltd showed the following information. Share capital General reserve Retained earnings $ 100 000 40 000 90 000 All the assets and liabilities of Moruya Ltd were recorded at amounts equal to their fair values at the acquisition date. Babakin Ltd incurred $15 000 in acquisition-related costs that included $2 500 as share issue costs. Required 1. Prepare the acquisition analysis at 1 July 2024. 2. Prepare the journal entries for Babakin Ltd to recognise the investment in Moruya Ltd at 1 July 2024. 3. Prepare the consolidation worksheet entries for Babakin Ltd's group at 1 July 2024. (LO3 and LO4)