Sima Ltd purchased all issued shares of Nima Ltd for $1900000 on 1 July 2020 when the equity of Nima Ltd was as follows; 1 2 Share capital Retained earnings 760000 Asset revaluation surplus 570000 285000 At this date, Nima Ltd had not recorded any goodwill, and all identifiable assets and liabilities were recorded at fair value except for the followings Account Inventories Land Plant + Cost $221,250 Further Carrying Amount Fair value life(Years) $57,000 $62,700 $143,000 $157,000 $177,000 $212,000 4 Contingent Liability Nima Ltd identified at acquisition date a lawsuit where Nima Ltd was sued by a former supplier with the Fairvalue of: $23,000 Unrecorded Asset Nima Ltd had unrecorded and internally generated Patent with the FairValue of $57,000 Unrecorded Asset Nima Ltd had unrecorded and internally generated in-process research and development with the FairValue of $43,000 Tax rate:3096. Required 1.Prepare the acquisition analysis at acquisition date