Please show step by step with explanations for each calculations note.

On 1 July 2015, Water Ltd paid $236 400 for 75% of the share capital of Rat Ltd. At this date, the equity of Rat Ltd consisted of: Share capital (200 000 shares) General reserve Retained earnings $ 200 000 80 000 40 000 A comparison of the carrying amounts and fair values of Rat Ltd's assets at the acquisition date showed the following: Fair value Land Plant (cost $150 000) Inventory Accounts receivable Goodwill Carrying amount $184 000 100 000 65 000 40 000 4 000 $200 000 120 000 90 000 35 000 In relation to these assets, the following information is available: The plant had a further 5-year life but was sold on 1 January 2017. All the inventory was sold by 30 June 2016. All the accounts receivable were collected by 30 June 2016. Any valuation reserves arising on consolidation are transferred on realisation of the asset to retained earnings. Water Ltd uses the partial goodwill method. The following transactions occurred between 1 July 2015 and 30 June 2017: 2016 Jan. 1 Rat Ltd transferred $20 000 from general reserve to retained earnings. Feb. 11 Rat Ltd paid an $8000 dividend, half being from profits earned prior to 1 July 2015. March 21 Rat Ltd sold inventory to Water Ltd for $50 000 recording a before-tax profit of $10 000. Both companies use a perpetual inventory system. The tax rate is 30%. June 25 Rat Ltd declared a $15 000 dividend. 30 Rat Ltd recorded a profit of $130 000. One-quarter of the inventory sold by Rat Ltd to Water Ltd on 21 March 2016 is still on hand in Water Ltd. Aug. 14 The $15 000 dividend declared by Rat Ltd was paid. Sept. 21 The remaining inventory in Water Ltd sold to it by Rat Ltd was sold outside the group. 2017 Jan. 1 Rat Ltd paid a $16 000 dividend. June 30 Rat Ltd recorded a profit of $150 000. Required Prepare the consolidation worksheet entries for the preparation of consolidated financial statements by Water Ltd at 30 June 2017 On 1 July 2015, Water Ltd paid $236 400 for 75% of the share capital of Rat Ltd. At this date, the equity of Rat Ltd consisted of: Share capital (200 000 shares) General reserve Retained earnings $ 200 000 80 000 40 000 A comparison of the carrying amounts and fair values of Rat Ltd's assets at the acquisition date showed the following: Fair value Land Plant (cost $150 000) Inventory Accounts receivable Goodwill Carrying amount $184 000 100 000 65 000 40 000 4 000 $200 000 120 000 90 000 35 000 In relation to these assets, the following information is available: The plant had a further 5-year life but was sold on 1 January 2017. All the inventory was sold by 30 June 2016. All the accounts receivable were collected by 30 June 2016. Any valuation reserves arising on consolidation are transferred on realisation of the asset to retained earnings. Water Ltd uses the partial goodwill method. The following transactions occurred between 1 July 2015 and 30 June 2017: 2016 Jan. 1 Rat Ltd transferred $20 000 from general reserve to retained earnings. Feb. 11 Rat Ltd paid an $8000 dividend, half being from profits earned prior to 1 July 2015. March 21 Rat Ltd sold inventory to Water Ltd for $50 000 recording a before-tax profit of $10 000. Both companies use a perpetual inventory system. The tax rate is 30%. June 25 Rat Ltd declared a $15 000 dividend. 30 Rat Ltd recorded a profit of $130 000. One-quarter of the inventory sold by Rat Ltd to Water Ltd on 21 March 2016 is still on hand in Water Ltd. Aug. 14 The $15 000 dividend declared by Rat Ltd was paid. Sept. 21 The remaining inventory in Water Ltd sold to it by Rat Ltd was sold outside the group. 2017 Jan. 1 Rat Ltd paid a $16 000 dividend. June 30 Rat Ltd recorded a profit of $150 000. Required Prepare the consolidation worksheet entries for the preparation of consolidated financial statements by Water Ltd at 30 June 2017