Parent Ltd acquires all the issued capital of Subsidiary Ltd for a cash payment of $500 000 on 30 June 2019. The statements of financial position of both entities immediately following the purchase are: Subsdiary Ltd (S000) Parent Ltd (S000) Current assets 5 55 10 150 Cash Accounts receivable Non-current assets Plant 500 100 800 200 500 1 660 Land Investment in Subsidiary Ltd 660 Current liabilities Accounts payable Non-current liabilities Loans Shareholders' equity Share capital Retained earn ings 30 60 150 400 200 280 660 1 000 200 1 660 All assets and liabilities of Subsidiary Ltd. were recorded at fair value at date of acquisition. REQUIRED: Calculate goodwill or gain on acquisition and record consolidation entries