Question: Antara Ltd operates in the construction industry and do not prepare consolidated financial statements. Laura Jones is the senior accountant of the company, leading the

Antara Ltd operates in the construction industry and do not prepare consolidated financial

statements. Laura Jones is the senior accountant of the company, leading the financial

reporting team. As a result of being profitable for the last five years, on 1 July 2018, Antara

Ltd acquired 25% of the issued ordinary shares of Blanca Ltd paying $198 000 in cash. This

provided Antara Ltd with the significant influence over Blanca Ltd.

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