The following financial records at 30 June 2018 are extracted from Blade Ltd and its subsidiary Runner Ltd.

Other information

?Blade Ltd acquired its 100 per cent interest in Runner Ltd for $716 000 (cum div) on 1 July 2014 four years earlier. Dividend declared and paid by Runner Ltd was $4 000 on 31 July 2014. On 1 July 2014, the capital and reserves of Runner Ltd were:

Share capital $400000

Retained earnings $250000

$650000

At the date of acquisition all assets were considered to be fairly valued.

?The opening inventory in Blade Ltd as at 1 July 2017 included inventory acquired from Runner Ltd for $84 000 that had cost Runner Ltd $70 000 to produce.

?During the year ended 30 June 2018, Blade Ltd made total sales to Runner Ltd of $130000, while Runner Ltd sold $104 000 in inventory to BladeLtd.

?The closing inventory in Blade Ltd includes inventory acquired from Runner Ltd at a cost of $67 200. This cost Runner Ltd $52 000 to produce.

?The closing inventory of Runner Ltd includes inventory acquired from Blade Ltd at a cost of $24 000. This cost Blade Ltd $19 200 to produce.

?The management of Blade Ltd believe that goodwill acquired was impaired by $5 000 in the current financial year. Previous impairments ofgoodwill amounted to $10 000.

?On 1 July 2017 Blade Ltd sold an item of plant to Runner Ltd for $100 000 when its carrying value in Blade Ltd's accounts was $80 000 (cost $120 000, accumulated depreciation $40 000). This plant is assessed as having a remaining useful life of six years from the date of sale.

?Runner Ltd paid $20 000 in management fees to Blade Ltd.

?The tax rate is 30 per cent.

Can you please help with consolidation worksheet entries for Blade group at 30 June 2018?

Blade Lid Runner Lid (8000) ( 50 00) Statement of financial position Shareholders equity Retained earnings 652 494 Share capital 700 400 Current liabilities Accounts payable 109 4 92.6 Tax payable 826 50 Non -current liabilities Loans 347 232 1891 1 268 . 6 Current assets Accounts receivable 1 18.8 124 .6 Inventor 184 58 Non - current assets Land and buildings $48 652 Plant - at cost 59 97 THE Accumulated depreciation (171.5 (277.6 Investment in Runner Itd The 1891 ANDBlade Lid Runner Led ( 3090) ( sabo ) Detailed reconciliation of opening and closing retained earnings Sales revenue 1380 1 160 Cost of goods sold (928) (475 Gross profit 452 684 Dividends received from Runner Lid 185 Management fee revenue 53 Gain on sale of plant 70 Expenses Administrative expenses (98 81 (77.4 Depreciation (45 ( 113 . G Management fee expense ( 53 ) Other expenses (202. 2) (154 ) Profit before tax 41 1 236 Tax expense 123 84 4 Profit for the year 288 201 6 Retained earnings - 30 June 2017 638 8 478 . 4 FREE 680 Dividends paid (2748 ) (186) Retained earnings - 30 June 2018 652 454