B On 1 January 2020, Fun Ltd acquired 60% of the ordinary voting shares of Plex Ltd for a cash payment of $1,000,000. At the date of acquisition, the fair value of Plex Ltd's identifiable assets and liabilities are represented by: Share capital Retained profits 1.1.20 $200,000 $600,000 The trial balances of Fun Ltd and Plex Ltd at 31 December 2020 (one year after acquisition) are shown below: Fun Ltd DR Plex Ltd CR DR CR $ $ $ $ Share capital 1,000,000 200,000 Retained profits 1.1.20 1,920,000 600,000 Cash at bank 1,180,000 600,000 Inventory 360,000 360,000 Plant and equipment 1,600,000 800,000 Accumulated depreciation 700,000 300,000 Investment in Plex Ltd 1,000,000 Accounts payable 400,000 1,180,000 Sales revenue 1,800,000 1,600,000 Cost of sales 1,520,000 1,200,000 Depreciation expense 160,000 120,000 On 1 December 2021, Plex Ltd sold inventories to Fun Ltd. The cost of inventories at Plex Ltd is 30,000. These inventories were still on hand at Fun Ltd as at 31 December 2021. The tax rate is 30%. The consolidation worksheet journal entries for eliminating the intragroup inventory sale prepared at 31 December 2021 are: