On 30 June 2022, Roxy Ltd acquired 100 of the issued capital of Box Hill Ltd by $500,000. At that date, the statement of financial position of Box Hill Ltd reported the share capital, retained earnings and reserve of: $350,000, retained earnings $100,000 and revaluation surplus $30,000. At the date of acquisition, all of the assets acquired and the liabilities assumed were valued at fair value. On 30 June 2023 Box Hill Ltd declared $20,000 of dividend. The reconciliation of retained earni