Parent Ltd (Parent) owns 70% of the issued shares of Subsidiary Ltd (Subsidiary). During the period ended 30 June 2016, the following transactions took placenJ ,J (a) In August 2015, Parent sold to external entities $2,000 worth of inventories that had been sold to it by Subsidiary in April 2015 at a profit before tax to Subsidiary of $400. A ,J (b) In March 2016, Parent sold $10,000 worth of inventories to Subsidiary, recording a profit before tax of $1,000. At 30 June 2016, 20% of these inventories remained unsold by Subsidiary. A ,J (c) In April 2016, Subsidiary sold $12,000 worth of inventories to Parent Ltd at a markup of 20%. At 30 June 2016, $1,200 of these inventories remained unsold by Parent Ltd. A ,J (d) At 1 July 2014, Parent purchased equipment from Subsidiary for $100,000. At that date, this equipment had a carrying amount of $80,000 in the accounts of Subsidiaryy ,J (e) At 30 June 2016, Parent recorded depreciation of $10,000 in relation to equipment sold to it by Subsidiary on 1 July 2014. Parent uses a 10% pa. straightline depreciation method for plant.+J ,J Required: Assuming a company tax rate of 30%, prepare consolidation journal entries to eliminate the effect of intragroup transactions as at 30 June 2016, considering the effect on noncontrolling interest (NCI) where applicablev