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On 1 July 2021 , Oldfield Ltd acquired 23% of the shares of Shadow Ltd for $340,000. There is a presumption that, as the shareholding is greater than 20%, Oldfield Ltd exerts a significant influence over the management of Shadow Ltd. t the date of the arruieition of the 22% aharpholdina the pruitu nf Sharlour 1 trl was marle un nf. At 1 July 2021, with the exception of land and plant and machinery, all the identifiable assets and liabilities of Shadow Ltd were recorded at their fair values. It was assessed that the plant and machinery would remain in operation for a further 5 years. With the revaluation of the land Shadow Ltd created an Asset Revaluation Surplus Account and measured the value of the land annually. The tax rate is 30%. The following is an extract from the financial statements of Shadow Ltd for 30 June 2023 : Required Prepare the Oldfield Ltd journal entries to include its equity investment in Shadow Ltd in the consolidated financial statements at 30 June 2023