QUESTION 4 Green Bhd. and Red Bhd. are to be liquidate since both companies heing acquired by Colors Bhd. on 1st December 2019. Colors Bhd. acquired all assets and liabilities of Green Bhd. and Red Bhd. upon the liquidation date. Following are the Statements of Financial Position of Green Bhd. and Red Bhd. as at 30 November 2019. Note: Value for all assets are at book value. Additional information: 1. The purchase consideration paid by Colors Bhd. to Green Bhd. and Red Bhd. as follo For the benefit of preference shareholders RM420,000 7\% preference shares was issued only to Green Bhd. per share at par. For the benefit of ordinary shareholders RM500,000 and RM600,000 ordinary shares were issued to Green Bhd. and Red Bhd. respectively per share at par. 2. The fair value of the plant, property and equipment are as follows: 3. Liquidation expenses of RM6,000 and RM4,000 for Green Bhd. and Red Bhd. respectively are to be paid by Colors Bhd. Instructions: (a) Calculate the goodwill and purchase consideration paid to Green Bhd. and Red Bhd. (b) Prepare journal entries to close the book of Green Bhd