How to solve the ModuleNotFoundError: No module named 'prompt_toolkit.formatted_text' in Jupyter Notebook inside the Pycharm IDE?

Just upgrade the console:

pip install -U jupyter_console

The link to the post from hpaulj in the first comment above provides the steps necessary to correct this issue. I, like Bhavani, followed the steps in that post, and my Jupyter notebook is now working. HERE IS THE LINK for convenience.