Sunshine Ltd reported the following information for plant and equipment in its statement of financial position at 1 July 2016: 1000,000 (305,000) 695,000 Plant and equipment - at cost Less: accumulated depreciation The records of Sunshine Ltd as at 1 July 2016 showed that the plant and equipment consisted of two items: Plant X Plant Y Cost 800,000 200,000 Carrying amount 575,000 120,000 Both items of plant are depreciated on a straight-line basis over 10 years. Plant X has an estimated residual value of $50,000, and Plant Y has an estimated residual value of nil. On 1 July 2017, the directors of Sunshine Ltd decide to change from the cost model to the revaluation model. The following information applies: 1 July 2017 1 July 2018 Fair value Remaining useful life Estimated residual value Plant X S460,000 6 years $40,000 Plant Y $110,000 5 years nil Plant X $410,000 5 years $40,000 Plant Y 90,000 4 years nil Assume a tax rate of 30%. Required Prepare all relevant journal entries for Sunshine Ltd's plant and equipment for the period 1 July 2016 to 30 June 2019 (including entries for depreciation and all necessary revaluation entries). Show narrations and all relevant workings