Please use the numbers in question to solve.

On 1 July 2013 P Ltd acquired all of the share capital (cum div)of S Limited for a consideration of $500,000 cash and a brand that was held in their accounts at a book value of $10,000 but now had a fair value of $34,000. At the date of acquisition S's accounts showed a dividend payable of $10,000.

At that date all the identifiable assets and liabilities were recorded at fair value with the exception of:

The inventory was all sold by 30/6/14. The remaining useful life of the plant is 5 years. The accounts receivable were collected by 30/6/14 for $14,000 The land was sold on 30/12/16 for $32000. The plant was on hand still at 30/6/17. At the date of acquisition the equity of Nanette Ltd consisted of:

ASSET	Book Value	Market Value
Inventory	10,000	14,000
Land	25,000	30,000
Plant	20,000
(Less depreciation)	-3,000
	17,000	22,000
Accounts receivable	16,000	14,000

Share Capital - $380,000

General Reserve - $70,000

Retained Earnings - $62,000

Information from the trial balances of S Ltd and P Ltd at 30 June 2017 is presented overleaf.

Additional Information:

1. On 1 Jan 2017 P Ltd sold inventory to S Ltd costing $60,000 for $80,000. Half of this inventory was sold to outside parties for $30,000 by 30/6/17. 2. On 1 Jan 2016 S Ltd sold inventory costing $9000 to P Ltd for $12,000. P Ltd treats the item as equipment and depreciates it at 10% per annum. 3.On 1 July 2016 S sold plant to P for $12,000. The plant had cost S Ltd $10,000 on 1 July 2014 and it was being depreciated at 10% per annum. P Ltd regards the plant as inventory. The inventory was all sold by 30th July 2016. 4. At 1 July 2016 P Ltd held inventory that it had purchased from S Ltd on 1 JunE 2016 at a profit of $7000. All inventory was sold by 30 June 2017 5. P Ltd accrues dividends from S Ltd once they are declared. 6. S Ltd has earned $1200 in interest revenue in the 2017 financial year from P Ltd.

7. S Ltd has earned $4800 in service revenue in the 2017 financial year from P Ltd.

8. Assume a tax rate of 30%.

A. Prepare the acquisition analysis at 1 July 2013. B. Prepare the BCVR and pre-acquisition journal entries at 1 July 2013. C. Prepare the BCVR and pre-acquisition journal entries at 30 June 2017.

D. Prepare the consolidated statement of profit or loss and other comprehensive income, the consolidated balance sheet and the consolidated statement of changes in equity for the period ended 30 June 2017.