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Peter Ltd acquired 90 per cent of the share capital of Simon Ltd on 1 July 2018 for a cost of $750 000. As at the date of acquisition all assets of Simon Ltd were fairly valued, other than the land that had a carrying amount $75 000 less than its fair value. The recorded balances of equity in Simon Ltd as at 1 July 2018 were: Share Capital $525 000 Retained earnings $150 000 Additional information The management of Peter Ltd values any non-controlling interest at the proportionate share of Simon Ltds identifiable assets. Simon Ltd had a profit after tax of $105 000 for the year ended 30 June 2019. During the financial year to 30 June 2019 Simon Ltd sold inventory to Peter Ltd for a price of $90 000. The inventory cost Simon Ltd $60 000 to produce, and 25 per cent of this inventory was still on hand with Peter Ltd as at 30 June 2019. During the year Simon Ltd paid $15 000 in management fees to Peter Ltd. On 1 July 2018 Simon Ltd sold an item of plant to Peter Ltd for $60 000 when it had a carrying amount of $45 000 (cost $75 000, accumulated depreciation of $30 000). At the date of sale it was expected that the plant had a remaining useful life of four years, and no residual value. The tax rate is 30 per cent.

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Round all figures to the nearest dollar amount. Prepare the consolidation adjustments for the year ended 30 June 2019. . can you please so me the working note with amount..

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