Question 2 (6 Marks) Swamp Ltd purchased 70 per cent of the issued capital for consideration of $7 000 000 and in the process gained control over Grassland Ltd on 1 July 2015. The fair value of the net assets of Grassland Ltd at purchase was represented by: Share capital 5 220 000 Retained carnings 740 000 Total 5 960 000 At acquisition date all the identifiable assets and liabilities of Grassland Ltd were recorded at amounts equal to fair value. At 1 July 2015, the fair value of the non-controlling interest was $3 000 000 and Swamp Ltd adopts the full goodwill method. At 30 June 2016, the equity of Maroon Ltd consisted of: Share capital 3 220 000 Retained earnings 860 000 Total 3 960 000 During the 2015-16 year Maroon Ltd recorded a profit of $120 000. Required: Prepare acquisition analysis