1. X Ltd controls Y Ltd. On the control date, the carrying amount of Y Ltds equipment was $60,000 while its fair value was $75,000. The equipment cost $100,000 and had a residual value of zero. Y Ltd uses the cost model for its equipment. On the control date, the consolidation adjustment will include the following line:

1. Cr Retained profits $15,000
2. Dr Accumulated depreciation $40,000
3. Cr Equipment $60,000
4. Cr Asset revaluation reserve $15,000

Please provide calculation