Question Four On 1 September 2021, Sanders Ltd acquired all of the issued share capital of Orion Ltd for an amount of $2 800 000 cash. On the date of the acquisition, the carrying amount and related fair value of assets, liabilities, and equity of Orion Ltd are: Carrying amount $ Fair value $ Cash 225,000 225,000 Accounts receivable 168,000 168,000 Inventory 220,000 236,000 Land 1,200,000 2,540,000 Plant 2,800,000 3,600,000 Loans (2,175,000) (2,175,000) Accounts payable (1,580,000) (1,580,000) Contingent liabilities (380,000) REQUIRED a) Calculate the goodwill or gain on acquisition. Ignore any deferred tax considerations. (8 marks) b) Referring to how goodwill is defined in AASB 3 (Business Combinations), is goodwill considered an asset for the purposes of financial planning? (3 marks) [11 marks]