- QUESTION 2 + Straw Ltd acquired a 30% interest in Berry Ltd for $240,000 on 1 July 2017. At that date, shareholders' equity of Berry Ltd consisted of:+ Share Capital- 560,000.. Retained Earnings + 40,000 . At 1 July 2017, the identifiable net assets of Berry Ltd were recorded at fair value.+ Information about income and changes in equity for Berry Ltd for the year ended 30 June 2020 is as follows:+ Berry Ltd+ . Revenue+ 600.000+ . Expenses+ 320.000+. Profit before income tax+ 280,000+. Income tax expense- 40,000+. Profit for the period 240,000+ . Retained earnings (1/7/19)+ 120.000+ . 360.000+. Dividend paid- 30,000+. Dividend declared- 50,000+ . 80,000+.. Retained earnings (30/6/20)