Parent Ltd acquires all the issued capital of Subsidiary Ltd for a cash payment of $550,000 on 30 June 2019. As per the statements of financial position, the subsidiary Ltd's shareholders' equity were as: Shareholders' equity Share capital: 200,000. Retained earnings: 280,000. Determine the goodwill at acquisition and write the required consolidation entry to recognise the goodwill and eliminate the investment in Subsidiary Ltd