Question: Problem 3-2 (LO 2) Equity method adjustments, consolidated worksheet. On January 1, 20X1, Peres Company purchased 80% of the common stock of Soll Company for

Problem 3-2 (LO 2) Equity method adjustments, consolidated worksheet. On January 1, 20X1, Peres Company purchased 80% of the common stock of Soll Company for $308,000.

On this date, Soll had common stock, other paid-in capital, and retained earnings of $50,000,

$100,000, and $150,000, respectively. Net income and dividends for two years for Soll Company were as follows:

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