(b) On first of July 2018 ABC ltd acquires 30 per cent of issued capital of XYZ Ltd for a cash consideration of $25 000. At the date of the acquisition: the shareholders' equity of XYZ Ltd is: Share capital S15 000 and Retained earnings S60 000 Additional information : XYZ Ltd reports following profits and dividends for the years ended 30 June 2019 to 2020 were as follows. Year 2019 2020 Profit before tax Income tax 40 ooo 35 ooo 15 ooo 12 Profit for the 22 Dividend paid 40 ooo 10000 ABC Ltd has a number of subsidiaries. Required (i) (li) Prepare journal entries under both the cost and equity method of accounting for the investment in XYZ Ltd for each of the years ended 30 June 2019 to 2020 (S Marks) Calculate the carrying amount of the investment in XYZ Ltd at 30 June 2020 (2 Marks) (b) On first of July 2018 ABC ltd acquires 30 per cent of issued capital of XYZ Ltd for a cash consideration of $25 000. At the date of the acquisition: the shareholders' equity of XYZ Ltd is: Share capital S15 000 and Retained earnings S60 000 Additional information : XYZ Ltd reports following profits and dividends for the years ended 30 June 2019 to 2020 were as follows. Year 2019 2020 Profit before tax Income tax 40 ooo 35 ooo 15 ooo 12 Profit for the 22 Dividend paid 40 ooo 10000 ABC Ltd has a number of subsidiaries. Required (i) (li) Prepare journal entries under both the cost and equity method of accounting for the investment in XYZ Ltd for each of the years ended 30 June 2019 to 2020 (S Marks) Calculate the carrying amount of the investment in XYZ Ltd at 30 June 2020 (2 Marks)