On 1st June 2018 , Big Ltd acquired the following assets and liabilites of Small Ltd: In exchange for these assets and liabilities, Big Ltd issued 100000 shares that has been issued for $1.20 per shares but at 1 June 2018 had a fair value of $6.50 per share. Required: Using knowledge of IFRS 3: Prepare the acquisition analysis and appropriate journal entries in the records of Big Ltd to account for the acquisition of the assets and liabilities of Small Ltd. [5 Marks]