Western Ltd acquired 75% of the shares of QuoII Ltd on 1 July 2012. In exchange for these share Western Ltd gave a consideration of $26000 cash and 10000 shares in Western Ltd, these having a fair value of $2 each. At this date the shareholders' equity of QuoII Ltd consisted of: Share capital (15 000 shares) $ 45000 Retained earnings 9000 At this date all the identifiable assets and I iabilities of Quoll Ltd were recorded at amounts equal to their fair values except for plant for which the fair value was $2000 greater than the carrying amount of $25 000 (original cost was $35 000). The plant was expected to have a further 5-year life. The fair value of the noncontrolling interest at 1 July 2012 was $15 000. Western Ltd uses the full goodwill method. The tax rate is 30%. Assets held by Quoll Ltd at 30 June 2017 include financial assets. Gains and losses on these assets are recognised in other comprehensive income. During the 2016-17 year Quoll Ltd recorded gains of$1500 on these assets. Financial information supplied by the two companies at 30 June 2017 was as follows:

	Western Ltd	Quoll Ltd
Sales Revenue	$ 75,000.00	$ 118,000.00
Interest Revenue	$ 375.00	$ 1,000.00
Divident revenue	$ 2,700.00	$ 1,000.00
	$ 78,075.00	$ 120,000.00
Cost of sales	$ (51,000.00)	$ (87,750.00)
financial expemse	$ (2,250.00)	$ (3,000.00)
selling expense	$ (6,000.00)	$ (9,000.00)
other espense	$ (2,250.00)	$ (2,250.00)
	$ (61,500.00)	$ (102,000.00)
Profit after tax	$ 16,575.00	$ 18,000.00
income tax expense	$ (7,500.00)	$ (8,200.00)
profit for the year	$ 9,075.00	$ 9,800.00
retained earning (1/7/16)	$ 28,900.00	$ 21,700.00
	$ 37,975.00	$ 31,500.00
Dividend paid	$ (4,000.00)	$ (3,600.00)
retained earning ((30/06/17)	$ 33,975.00	$ 27,900.00
share capital	$ 60,000.00	$ 45,000.00
other componnets of equity	-	$ 7,500.00
total equity	$ 93,975.00	$ 80,400.00
current liabilities	$ 12,750.00	$ 4,350.00
non current liabilities - loan	-	$ 7,500.00
total liabilities	$ 12,750.00	$ 11,850.00
total equity & liabilities	$ 106,725.00	$ 92,250.00
Plant	$ 45,000.00	$ 90,000.00
Accumulated depreciation	$ (25,500.00)	$ (45,750.00)
shares in quoll ltd	$ 46,000.00	$ -
loans from quoll litd	$ 3,750.00	$ -
inventory	$ 13,400.00	$ 23,250.00
cash	$ 21,075.00	$ 750.00
financial asset	$ -	$ 16,500.00
deferred tax asset	$ 3,000.00	$ 7,500.00
total asset	$ 106,725.00	$ 92,250.00

Additional information (a)At 1 July 2017, Western Ltd held inventory that had been sold to it by Quoll Ltd in the previous year at a profit of $1200.

(b)During the 2016-17 year, Quoll Ltd sold inventory to Western Ltd for $28 500. At 30 June 2017, Western Ltd still had on hand inventory that had been sold to it by Quoll Ltd for a profit of $1800 before tax.

(c)Interest of$375 was paid by Western Ltd to Quoll Ltd on both 30 June 2016 and 30 June 2017.

Required: A. Prepare the journal entries to effect the consolidation. B. Prepare the consolidation worksheet. C. Prepare the Statement of Comprehensive Income and the Statement of Changes in Equity for the group for the year ended 30th June 2017. D. Prepare the Statement of Financial Position as at 30th June 2017.