QUESTION 3 24 points statements On 1 July 2021, Terry Ltd acquired 20%% of the shares in White Led for $480,000 cash, which gave Terry Lid significant influence over White Led. Terry Led is a parent entity and does prepare consolidated financial In the financial year ended 30 June 2023, White Lid: . recorded a profit of $25,000 after tax . Paid an interim dividend of $1,000 . Declared a final dividend of $4,000 In the previous year, 30 June 2022, no dividends were paid due to the pandemic and White Led recorded a loss of $9,000 after tax. The following inter-entity transactions have occurred between Terry Led and White Ltd: (a) On 1 August 2022, Terry Led sold inventories to White Led for $225 000. The original cost was $220,000. White Led sold 25% of this inventory externally by 30 june 2023. (b) On 1 January 2022 (prior year), White Led sold a tractor costing $344 000 to Terry Led for $364 000. Terry Led applied a depreciation rate of 20%% per annum on cost to the tractor (c) On 1 June 2022 (prior year) White Led sold inventories to Terry Led for a before tax profit of $10,000. 100% was sold to external parties on 1 July 2022. Terry Led applies AASB 128/IA5 28 in accounting for its investment in White Led. Assume 30% tax rate. Required: a. Calculate the share of profit for Teal Led for the year ended 30 June 2023. Show all workings. (12 marks) b. Prepare the worksheet entries for Terry Led, as at 30 June 2023. Include a date for each entry and ignore narrations. (12 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Open Sans, S... v 10pt Ev Ev A v V E E x X, + v V EX i ()