Question 2 5 pts P Ltd owns 100% of the issued capital of S Ltd. Assume the tax rate is 30%. On 01/07/2016, P Ltd sold equipment to S Ltd for $45,000. The equipment had originally cost $75,000 and had a carrying amount of $35,000 at the time of the sale. Phad been depreciating the asset at 5% per year on a straight-line basis with no residual. S depreciates the asset at 10% per annum straight-line with no residual. Required: Prepare consolidation journal entries for the year ended 30/06/2020. Activate Go to Sell HTML Editor o