Yadra Ltd owns all of the share capital of Viti Ltd. In relation to the following intragroup transactions, all parts of which are independent unless specified, prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at 30 June 2016. Assume an income tax rate of 30%.

1. A non-current asset with a carrying amount of $1200 was sold by Viti Ltd to Yadra Ltd for $900 on 1 January 2016. Yadra Ltd intended to use this item as inventory, being a seller of second-hand goods. Both entities charged depreciation at the rate of 10% p.a. on the diminishing balance on non-current assets. The item was still on hand at 30 June 2016.