Cars Ltd acquired 60% of Trucks Ltd for a cost of $600,000, when the equity of Trucks Ltd consisted of: Share Capital $200,000 General Reserve $80,000 MACO06 Trimester 2 2021 FEX Page 2 of 8 Retained Earnings $20,000 All the identifiable assets and liabilities of Cars Ltd were recorded at fair value except for the following: Carrying Fair Amount Value Vehicles (cost $550.000) $450,000 $490,000 Equipment $80,000 S90,000 Roquired: Prepare the journal entries for the pre-acquisition stage (ie. Stage 1) of recording the pre- acquisition elimination and Non-Controlling Interest both using the partial goodwill method, (Answer and show workings here)