Question Five 0n 1 july 2017, P Ltd acquired 70% of the issued shares of S Ltd for $145,000. At this date, the equity of S Ltd was: Share capital $100,000 General reserve $40,000 Retained earnings $50,000 At acquisition date, all the identiable assets and liabilities of 5 Ltd were recorded at amounts equal to fair value. Required 1- Prepare the acquisition analysis as at 1 July 2017 using the partial goodwill method. Show all calculations. (7 ma rks) 2- Prepare a worksheet entry at 1 July 2017 to record the NCl's share of equity. (3 marks} [Total 10 marks]