On 31 December 20X4,Hugh Ltd gained control of Jackman Ltd by acquiring 80% of its shares for $160,000. At this date, Jackman had share capital of $120,000 and retained profits of $25,000. Below is an extract of financial information of both entities as at 31 December 20X6, the end of the current year: Hugh Ltd Jackman Ltd Net profit 90 000 40 000 Retained profits (opening) 120000 50000 Profit available 210 000 90 000 less Dividend paid 15000 15 000 Retained profits (ending) 195000 75 000 Share capital 350 000 100000 Owners' equity 545000 175 000 Additional information: 1 The partial goodwill method is used. 2 Jackman sold a vehicle to Hugh on 31 December 20X4 for $55,000. The vehicle originally cost Jackman $90,000 and had a zero residual value.Jackman depreciated the vehicle at the rate of 10% p.a. using the straight-line method. The vehicle was 5 years old at the time of the intragroup sale. The vehicle's residual value and useful life were not affected by the sale. Hugh depreciates the vehicle also using the straight-line method. Required: a) Prepare all the necessary consolidation journal entries at 31 December 20X6. b) Which entity made the gain in the intragroup transaction? Should the gain be deducted from Jackman's equity before calculating the NCI share of its equity? c) Which entity incurred higher depreciation expense due to the intragroup transaction? Should the depreciation difference be adjusted in Jackman's equity before calculating the NCI share of its equity? d) Calculate the NCI allocation for the following equity items of Jackman for the year ended 31 December 20X6.Show workings. NCI allocations ($) Net profit Retained profits (opening)

Note: 1) Use the provided journal entry template for your response.2) Workings/calculations or narrations are NOT required. 3) While the template provides sufficient space, if you encounter formatting issues or lack space,you can record your journal entries below the template. Make sure to indicate whether it's a Debit(DR) or Credit (CR) entry.