Vulcan Ltd sold all of its non-current assets and liabilities to Spock Ltd on 1 July 2020. The Balance sheet of Vulcan Ltd at the date of acquisition was as follows:

Item	Carrying amount
Current assets:
Cash	$100,000
Non-current assets:
Land & Buildings	$250,000
Plant & Machinery	$ 20,000
Goodwill	$ 15,000
Total Assets	$385,000
Non-current liabilities:
Mortgage	$110,000
Total Liabilities	$110,000
Net Assets	$275,000
Equity:
Share capital	$150,000
Retained earnings	$125,000
Total equity	$275,000

The Plant & Machinery had a cost of $38,000 and accumulated depreciation of

$18,000. The fair value of the Plant & Machinery was $31,000. All other assets are shown at fair value. The acquisition was satisfied by the issue of 10,000 ordinary shares (fully paid) in Spock Ltd. Assume the identifiable assets and liabilities acquired constituted a business. The share price at various dates as listed on the ASX for Vulcan Ltd is shown in the table below:

Date	Share price (per share)
On issue	$10
30 June 2020	$11.50
1 July 2020	$12.50
30 June 2021	$11.75
Average for 2020 year	$13

Required:

Do a detailed acquisition analysis in good format showing the calculation of the goodwill /gain on bargain purchase, show your workings. Marks are awarded for clear formatting.