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Big Parent Ltd acquired 60% of the equity in Sub Ltd for $5400000 on 1 April 2014. At the date of acquisition, the equity of Sub Ltd consisted of Share capital of $4100000 and Retained profits of $1520000. Because Sub Ltd uses the cost model for its recognised property, plant and equipment, it had several items whose book values were lower than fair values at the date of acquisition. The following table lists the identified assets and liabilities at their book values and fair values as at the date of acquisition: Required: (a) Prepare a 100\% acquisition analysis to determine the total amount of goodwill in Sub Ltd. (b) Prepare the notional joumal entry, as at 31 March 2021, to eliminate the Big Parent Ltd asset 'Investment in Sub Ltd' and to eliminate the parent's portion of equity in the Sub Ltd, in accordance with NZ IFRS 10 Consolidated Financial Statements and NZ IFRS 3 Business Combinations. (c) Explain, by referring to relevant accounting standards, why the Group recognised, the Sub related contingent liability in the Group Statement of Financial Position but Sub Ltd did not recognise it in its Statement of Financial Position. (b) Prepare the notional journal entry, as at 31 March 2021, to eliminate the Big Parent Ltd asset 'Investment in Sub Ltd' and to eliminate the parent's portion of equity in the Sub Ltd, in accordance with NZ IFRS 10 Consolidated Financial Statements and NZ IFRS 3 Business Combinations

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