Wine Ltd and Beer Ltd have agreed that Wine Ltd will take over the business of Beer Ltd. The statement of financial position of Beer Ltd immediately before the takeover is as follows. Carrying Fair Value Amount Cash $ 10 000 $ 10 000 Accounts receivable 70 000 62 500 Land 310 000 420 000 Buildings (net) 265 000 275 000 Farm equipment (net) 180 000 182 000 Irrigation equipment (net) 110 000 112 500 Vehicles (net) 80 000 86 000 $1 025 000 $ 40 000 $ 40 000 240 ood 240 000 Accounts payable Bank Loan Share capital Retained earnings 335 000 410 000 $1 025 ood Wine Ltd is to acquire all the assets of Beer Ltd except for cash, and one of the vehicles (having a carrying amount of $22 500 and a fair value of $24 000), and assume all the liabilities except for the bank loan. Beer Ltd is then to go into liquidation. In exchange for the business, Wine Ltd has agreed to transfer to Beer Ltd the following: Sufficient additional cash to enable the bank loan to be paid off, and to cover the liquidation costs of $2750. Wine Ltd will also give an additional cash figure of $75 000. A block of land that has a fair value of $110 000. This land is in Wine Ltd accounts at its carrying amount of $40 000. 50 000 Wine Ltd shares, these having a fair value of $14 The takeover proceeded with Wine Ltd incurring incidental costs of $12 500 and share issue costs of $9 000. Required: Prepare the acquisition analysis and the journal entries to record the acquisition of Beer Ltd in the records of Wine Ltd