On 30 June 2023, Moon Ltd. paid $250,000 to buy all the shares of Sun Ltd. On this date Sun Ltd. reported the following balances. On the date of acquisition, all the assets and liabilities of Sun Ltd. were at fair value, except a machine that was kept $50,000 above its fair value and a remaining useful life of 15 years. The residual value is $5,000 and Sun Ltd. had been depreciating this asset using the straight-line metho On 30 June 2023 , the carrying amount of this machine was $120,000 and the accumulated depreciation was $20,000. Moon Ltd. and Sun Ltd. use the straight method for depreciation. The income tax rate is 30%. Required: Question 1 Prepare the acquisition analysis on 30 June 2023