a$.$ How was the $$162,100$ Equity in Income of Small balance computed?

b$.$ Determine the totals to be reported by this business combination for the year ending December $31,2024.$

c$.$ Prepare a consolidation worksheet for Giant and Small for the year ending December $31,2024.$

d$.$ If Giant determined that the entire amount of goodwill from its investment in Small was impaired in $2024,$ what journal entry would Giant make to record such impairment?

Complete this question by entering your answers in the tabs below.

Prepare a consolidation worksheet for Giant and Small for the year ending December $31,2024.$

Note: For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.

Show less $A$

$\backslash$table$[[$GIANT COMPANY AND SMALL COMPANY$],[$Consolidation Worksheet$],[$For Year Ending December $31,2024],[$Accounts$,$Giant,Small,Consolidation Entries,$\backslash$table$[[$Consolidated$],[$Totals$]]],[$Debit$,$Credit$],[$Revenues$,,(1,222,400),$$$,(477,000),,,],[$Cost of goods sold,,$585,000,,97,000,,,],[$Depreciation expense,,$173,500,,208,000,,,],[$Equity income of Small,,$(162,100),,0,,,],[$Net income,,$(626,000),$$$,(172,000),,,],[$Retained earning, $1/1/24,,(1,240,000),$$$,(655,000),,,],[$Net income $($above$),,(626,000),,(172,000),,,],[$Dividends declared,,$300,000,,110,000,,,],[$Retained earnings, $12/31/24,,(1,566,000),$$$,(717,000),,,],[$Current assets,$$,216,500,$$$,337,000,,,],[$Investment in Small,,$1,037,500,,0,,,],[$Land$,,427,000,,257,000,,,],[$Buildings $($net$),,287,000,,436,000,,,],[$Equipment $($net$),,725,000,,310,000,,,],[$Goodwill$,,0,,0,,,],[$Total assets,,$2,693,000,$$$,1,340,000,,,],[$Liabilities$,,(877,000),$$$,(453,000),,,],[$Common stock,,$(250,000),,(170,000),,,],[$Retained earnings $($above$),,(1,566,000),,(717,000),,,],[$Total liabilities and equity,$$,(2,693,000),$$$,(1,340,000),0,,]]$