QUESTION : CONSOLIDATION - INTRA GROUP TRANSACTIONS ( MARKS) Apple Ltd owns all the shares of Orange Ltd. In relation to the following intragroup transactions, all parts are independent unless specified otherwise. Required: Prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at 30 June 2023. (Narrations are required) Assume an income tax rate of 30%. a) Apple Ltd sold inventory to Orange Ltd on 1 September 2022 for $49,000. This inventory had cost Apple Ltd $40,000. One-third of the inventory was sold by Orange Ltd to Pear Ltd for $28 000 and one-third to Apricot Ltd for $28 200 by 30 June 2023. (3 Marks) b) Apple Ltd manufactures certain items which it then markets through Orange Ltd. During the current period, Apple Ltd sold items for $35,000 to Orange Ltd at cost plus 40%. Orange Ltd has sold 75% of these transferred items at 30 June 2023. (3 Marks) c) In January 2023, Orange Ltd paid an interim dividend of $8,500.