RedSky Ltd. has the following balance sheets for 31 December 2023. Prepare the consolidated balance sheet for 31 December 2023.

RedSky Ltd Balance Sheet as at 31 December 2023

Assets	Amount
Investment in subsidiary (60,000 shares bought 31.12.2022)	$180,000
Fixed assets	$250,000
Current assets	$70,000
Total	$500,000

Liabilities and Equity	Amount
Share capital	$350,000
Profit and loss account (31.12.2022)	$60,000
Add Profit for 2023	$90,000
Total	$500,000

BlueMoon Ltd Balance Sheet as at 31 December 2023

Assets	Amount
Fixed assets	$90,000
Current assets	$50,000
Total	$140,000

Liabilities and Equity	Amount
Share capital	$70,000
Profit and loss account (31.12.2022)	$10,000
Add Profit for 2023	$60,000
Total	$140,000

Requirement: Prepare the consolidated balance sheet for RedSky Ltd. and its subsidiary as at 31 December 2023. Calculate the goodwill on acquisition.