Sensitivity On 1 July 2021 Smith Ltd acquired the shares of Jones Ltd for $30000 On the date of acquisition, the balance sheets of Smith Ltd and Jones Ltd showed the following respectively. Smith Ltd Balance Sheet as at 1 July 2021 Share capital $70000 Retained earnings $10000 Cash at bank $15000 Land $35000 Investment in Jones Ltd $30000 Jones Ltd Balance Sheet as at 1 July 2020 Share capital $15000 Retained earnings $9000 Cash at bank $3000 Patent (fair value is $4000) $3000 Land (fair value is $15000) $18000 The Company tax rate is 30%. H Editor Required: 1. Complete the acquisition analysis as at the date of acquisition. (8 marks) 2. Prepare the adjusting journal entries for the consolidation worksheet at 1 July 2020. Narrations are required. (17 marks) 3. Complete the consolidation worksheet as at 1 July 2021 on the next page. (15 marks) 1. Answer table for your Acquisition analysis at 1 July 2021: Expand the table as needed to contain your answer.