Tan Ltd acquired 60% of the issued share capital of Smith Ltd on 1 February 20X1. Smith Ltd's shareholders equity (all at fair value) at that date was as follows: $ 000s 4,000 Paid up capital Retained profits 1,000 Asset revaluation reserve 2,000 If Tan Ltd paid $4,000,000 for this acquisition what is the elimination entry if consolidated financial statements were prepared on 1 February 20X1? Use the partial method