Question 7. (15 marks) - Type your answer in the template provided On 1 July 2019 Sugar Ltd acquired 90% of the shares of Glider Ltd for $435 240. At this date the equity of Glider Ltd consisted of share capital of $300 000 and retained earnings of $120 000. All the identifiable asset and liabilities of Glider Ltd were recorded at amounts equal to fair value except for Land Plant (Cost 380000) Inventories Carrying amount 80000 300000 15000 Fair Value 100000 330000 18000 The plant was considered to have a further 10-year life. All the inventory was sold by 30 June 2020. The tax rate is 30%. Sugar Ltd uses the partial goodwill method. During the 2019-20 period Glider Ltd recorded a profit of $30 000 Required Prepare the consolidation worksheet entries for the preparation of the consolidated financial statements of Sugar Ltd at 30 June 2020