Undervalued assets, full goodwill method  LO3, 4, 5, 6 On 1 July 2019, Huntsman Ltd acquired 90% the issued shares of Spider Ltd for $140 300. At this date the equity of Spider Ltd consisted of share capital of $100 000 and retained earnings of $50 000. All the identifiable assets and liabilities of Spider Ltd were recorded at amounts equal to fair value at 1 July 2019, except for plant for which the carrying amount of $80 000 (net of accumulated depreciation of $40 000) was $3000 less than the fair value. The plant was estimated to have a further 3‐year life beyond 1 July 2019, with the benefits expected to flow evenly over the period. Huntsman Ltd uses the full goodwill method. The fair value of the non‐controlling interest at 1 July 2019 was $15 500. The following annual results were recorded by Spider Ltd following the business combination. Year ended Profit/(loss) Other items of comprehensive income 30 June 2020 $ 8 000 $2 000 30 June 2021 9 000 3 000 30 June 2022 10 000 4 000 30 June 2023 11 000 5 000 The other items of comprehensive income relate to the gains on revaluation of land of Spider Ltd. The tax rate is 30%. Required 1. Prepare the consolidation worksheet entries as at 1 July 2019. 2. Prepare the consolidation worksheet entries for the year ended 30 June 2020. 3. Prepare the consolidation worksheet entries for the year ended 30 June 2021. 4. Prepare the consolidation worksheet entries for the year ended 30 June 2022. 5. Prepare the consolidation worksheet entries for the year ended 30 June 2023.