Blue Ltd acquired on 1 July 2019 all the issued shares (cum div.) of ‘Pink’ Ltd for $33 000. At this date, the equity of ‘Pink’ Ltd was as follows.

Share Capital	$ 20 000
General Reserve	2 000
Retained Earnings	5 000

All the identifiable assets and liabilities of ‘Pink’ Ltd were recorded at amounts equal to their fair values except for the following.

	Carrying Amount	Fair Value
Plant Cost ($22 000)	$18 000	$18 600
Land	19 000	21 000
Inventories	2 000	2 800

The plant’s expected remaining useful life was 5 years with benefits being expected evenly over that period. The plant was sold on 1 January 2022 for $18 700. The land was sold in February 2021 for $25 000. Of the inventories, 90% was sold by 30 June 2020 and the rest by 30 June 2021. At 1 July 2019, ‘Pink’ Ltd had recorded a dividend payable of $1 000 that was paid in September 2019. ‘Pink’ Ltd also had some unrecorded assets, in particular the brands relating to the clothing sold in the teenage market. ‘Blue’ Ltd valued these brands at $1 200 and assessed them to have an indefinite life. In the notes to its financial statements at 30 June 2019, ‘Pink’ Ltd disclosed a contingent liability relating to a guarantee it had made to one of its related companies. ‘Pink’ Ltd assessed the fair value of the guarantee payable as being $1 000. In August 2021, ‘Pink’ Ltd was required to pay $250 in relation to the guarantee. All transfers to the general reserve made by ‘Pink’ Ltd have been from retained earnings earned prior to 1 July 2019. The tax rate is 30%. The financial information provided by the two companies at 30 June 2020 is as follows.

‘Blue’ Ltd	‘Pink’ Ltd
Revenue	19 000	11 000
Expenses	(8 000)	(7 600)
	11 000	3 400
Gains on sale of non-current assets	500	400
Profit before tax	11 500	3 800
Income Tax expense	(4 000)	(600)
Profit for the year	7 500	3 200
Other Comprehensive income
Gains on revaluation of plant	1 200	0
Comprehensive income for the year	$8 700	$3 200
Profit for the year	$7 500	$3 200
Retained earnings (1/7/21)	8 000	8 800
	15 500	12 000
Dividend Paid	(3 400)	0
Transfer to general reserve	0	(1 500)
	(3 400)	(1 500)
Retained Earnings (30/6/22)	$12 100	$10 500
Share Capital	$28 000	$20 000
General reserve	2 000	4 800
Asset revaluation surplus	2 400	0
Retained earnings	12 100	10 500
Total equity	44 500	35 300
Provisions	1 500	1 200
Payables	4 000	800
Total Liabilities	5 500	2 000
Total Equity and liabilities	$50 000	$37 300
Cash	$1 200	$3 000
Accounts Receivable	2 800	1 200
Inventories	3 000	5 100
Plant	23 000	32 000
Accumulated Depreciation- Plant	(12 000)	(4 000)
Shares in Brooks Ltd	32 000	0
Total Asset	$50 000	$37 300

Required

1. Prepare the acquisition analysis at 1 July 2019.
2. Prepare the consolidation worksheet entries for ‘Blue’ Ltd’s group at 30 June 2022
3. Prepare the consolidation worksheet for ‘Blue’ Ltd’s group at 30 June 2022