On 1 July 2012 Sarah Ltd acquires all the shares in Jane Ltd for $875,000 cash The financial statements of Jane Ltd as at 1 July 2012 shows the following: Retained earnings 176,000 Share capital 195,000 The tax rate is 30% At the date of acquisition all the net assets of Jane Ltd are at fair value except for the following: Carrying Fair value amount Equipment (cost $100,000 $217,000 $189,000) The equipment has a further 13 years of useful life. All consolidation entries on 30 June 2018 are shown below: Dr. Retained earnings $176,000 Dr. Share capital $195,000 Dr. BCVR Dr. Goodwill Cr. Investment in Jane $875,000 Itd Dr. Accumulated 189,000 - depreciation 100,000 Dr.(or Cr.) Equipment Cr. BCVR ( 217,000 - 100,000 ) x 70% Cr. DTL ( 217,000 - 100,000 ) x 30% Dr. Retained earnings xxx Dr. Depreciation (217,000 - expense 100,000/13 Cr. Accumulated depreciation Dr. DTL Cr. Income tax expense ( 217,000 - 100,000 ) x 30% / 13 Cr. Retained earnings Complete the consolidation journals above and enter the amount of xxx (retained earnings) in the answer block below