Provide analysis, journal entries and recommendation

Share purchase (Green Circle Food Hub) The Green Circle Food Hub ("GCF") Inc. was a company formed by local farmers many years ago. Emily and Dave discussed the rising demand for local, seasonal food with GCF and on July 1, 2019 acquired 90% of the outstanding common shares of GCF for $90,000 cash. (Exhibit I). The company was inactive but in the early days of the pandemic, out of the tremendous need for collaboration and cooperation between farmers and homes, GCF ramped up operations. It started with a few farmers working together to sell each other's food and deliver to homes through no-contact delivery. Kendal had the facilities (fridge storage, freezer storage & dry storage) to serve as a collection point for food. The purpose for the Green Circle Food Hub is to serve farmers, homes and the environment For Homes: Increases access to the best, seasonal food from small producers. Provides a direction connection to the people growing and making your food For Farmers: It allows farmers & producers to set the prices for their food.