QUESTIDN 3 Parent Ltd has asked for your help in the preparation of consolidated nancial statements for the nancial year ended 31 March 2022; the}.r value your understanding of NZ IFRS i 0 Consolidated Financial Statements and NZ IFRS 5 Business Combinations. Parent Ltd sent you the following information: it The equity in Subsidiary Ltd was acquired on 1 April 2-313. At that date the equity of Subsidiary Ltd comprised: Share capital balance of 5100 000 and Retained earnings of 53C! D. 1* The identiable net assets of Subsidiary Ltd Twere n_ot fairly valued on 1 April 21313 because: Subsidiary Ltd had an internally generated intangible asset with an estimated fair value of $15 . Subsidiary Ltd uses the cost model for its property, plant and equipment {PPE}; the cost of the PPE was STD HUD and the fair value was estimated to be $95 . Ir Prior years\" impairment of total goodwill amounted to $3 DDD. For the current year ended 31 March 222 the directors of Parent Ltd believe that the total goodwill has been thher impaired by $4 . Question 3 continued: During the month ended 31 March 21321 Subsidiary Ltd made sales to Parent Ltd of $3 (11313 and recognised a prot of $5 . Parent Ltd sold this purchase of inventory,r to Pink Ltd on 15 May ECU-.1. During the month ended 31 March EDIE: Subsidiary Ltd made sales to Parent Ltd of $1\" (11313 and recognised a prot of 53 Jill]. This purchase remained in the mt'entory of Parent Ltd as at 31 March EDIE. During the month. ended 31 March 29;: Parent Ltd made sales to Subsidiary Ltd of $3 mm and recognised a prot of 59W. Subsidiary Ltd sold this purchase of inventory to Ford Ltd on 5 April 21322. Subsidiary Ltd billed Parent Ltd $4 20') for consulting advice provided on 28 February 21322. This transaction had been recognised by both entities; it remained unpaid as at 31 March 2 22. Required: {a} Assume Parent Ltd acquired 100% of the equity;r in Subsidiary,P Ltd for $200,000 on 1 April 2013+ Complete the consolidation worksheet in the answer book for Parent Ltd for the financial year ended 31 March 2022 in accordance with NZ IFRS 3 and NZ IFRS 10. You must present your notional journal entries as workings. \f\f