3 points Question 2 On January 2, 2022 Parent Co. acquired 60% of Subsidiary Inc. for $ 690,000. On that date, Subsidiary reported common stock $ 190,000, retained earnings of $82,000. A building (with 10-year remaining life) was undervalued in the company's financial records by $14,000. Trademarks of $50,000 were to be recognized and amortized over 8 years Subsidiary earned income and paid dividends as follows Net income Dividends Paid 2022 40,000 15,000 2023 $7,000 21,000 Required: Activate Windows Go to Settings to activate Window If the equity method had been applied by Parent for this acquisition, Prepare entries "C needed for 2023 consolidation if Parent Co, applied the initial value method 3 points Question 2 On January 2, 2022 Parent Co. acquired 60% of Subsidiary Inc. for $ 690,000. On that date, Subsidiary reported common stock $ 190,000, retained earnings of $82,000. A building (with 10-year remaining life) was undervalued in the company's financial records by $14,000. Trademarks of $50,000 were to be recognized and amortized over 8 years Subsidiary earned income and paid dividends as follows Net income Dividends Paid 2022 40,000 15,000 2023 $7,000 21,000 Required: Activate Windows Go to Settings to activate Window If the equity method had been applied by Parent for this acquisition, Prepare entries "C needed for 2023 consolidation if Parent Co, applied the initial value method