On 1 November 2020, Bermuda Ltd acquired all the assets and liabilities (other than cash) of Triangle Ltd. The details on the assets and liabilities of Triangle Ltd were as follows:

	Carrying Amount	Fair Value
Cash	50,000	50,000
Equipment	130,000	140,000
Accounts Receivable	15,000	15,000
Furniture	25,000	20,000
Accounts Payable	20,000	20,000
Income tax Payable	9,000	9,000
Annual Leave Payable	4,000	4,000

In addition to the above items Triangle Ltd had an internally generated brand name with a fair value of $50,000 that was not recognised in its accounts. The consideration Bermuda Ltd paid to Triangle Ltd was $80,000 cash and 20,000 shares. The fair value of each Bermuda Ltd share is $7. Bermuda Ltd paid $20,000 in acquisition related costs. Tax rate is 30%.

Required:

Conduct an acquisition analysis for Bermuda:

1. Purchase Consideration

2. Net Identifiable Assets (Hint: E = A - L)

3. Business Combination Valuation Reserve

4. Goodwill/(Bargain Purchase)