Part B -: Provide relevant calculations and related journal entries for the following case. Alpha limited acquired all the issued shares of Beta Ltd on 1st July 2018 for $1917097. At this date, the equity of the Beta Ltd stated below. Share capital $670516 Retained earnings $287842 General reserve $229827 All the identifiable assets and liabilities of Beta Ltd were recorded at amounts equals to their fair values at acquisition date except for the following. Cost Further useful life Account Inventories Land Plant Carrying amount $287842 $575684 $670516 Fair value $517670 $1036455 $1207153 $804396 6 Additional information: 92% of the inventories were sold by 30th June 2019; the remainder was sold by 30th June 2020 In April 2019, Beta Ltd transferred $114913 from the General reserves to retained earnings. The applicable Tax rate would be 30% Required, 1. Prepare the acquisition analysis at 1st July 2018. 2. Prepare the consolidation worksheet entries for the Alpha Ltd's group at 30th June 2019. (Please mention relevant calculations and workings whenever necessary) Part B -: Provide relevant calculations and related journal entries for the following case. Alpha limited acquired all the issued shares of Beta Ltd on 1st July 2018 for $1917097. At this date, the equity of the Beta Ltd stated below. Share capital $670516 Retained earnings $287842 General reserve $229827 All the identifiable assets and liabilities of Beta Ltd were recorded at amounts equals to their fair values at acquisition date except for the following. Cost Further useful life Account Inventories Land Plant Carrying amount $287842 $575684 $670516 Fair value $517670 $1036455 $1207153 $804396 6 Additional information: 92% of the inventories were sold by 30th June 2019; the remainder was sold by 30th June 2020 In April 2019, Beta Ltd transferred $114913 from the General reserves to retained earnings. The applicable Tax rate would be 30% Required, 1. Prepare the acquisition analysis at 1st July 2018. 2. Prepare the consolidation worksheet entries for the Alpha Ltd's group at 30th June 2019. (Please mention relevant calculations and workings whenever necessary)