Sale of shares in subsidiary by parent without loss of control   LO5 Pretty Ltd acquired 80% of the issued shares of Smart Ltd on 1 July 2018 for $20 375 when the shareholders’ equity of Smart Ltd consisted of: Share capital $12 500 Retained earnings 10 000 All the identifiable assets and liabilities of Smart Ltd were recorded at amounts equal to their fair values except for plant for which the fair value was $1250 greater than carrying amount. The remaining economic life of the plant was 5 years. The fair value of the non‐controlling interest was $5000. The full goodwill method was used on consolidation. On 1 July 2020, Pretty Ltd sold 16% of the issued shares of Smart Ltd (i.e. 1/5 of its holdings) for $5000. Shareholders’ equity of Smart Ltd at this date consisted of share capital of $12 500 and retained earnings of $12 500. Required Prepare the consolidation worksheet entries at 1 July 2020 immediately after Pretty Ltd sold its shares in Smart Ltd.