Additional Information

The notes payable are intercompany.

Required:

$($a$)$ Prepare the Year $6$ consolidated financial statements. $($Input all values as positive numbers. Leave no cells blank $-$ be certain to

enter $"$O$"$ wherever required. Round your intermediate computations to nearest whole dollar value. Omit $ sign in your response.

The balance sheet total may vary due to rounding.$)0$'Sullivan Corp.

$\backslash$table$[[\backslash$table$[[0$'Sullivan Corp.$],[$Statement of Consolidated Retained Earnings$],[$Year ended December $31,$ Year $6]]],[($Click to select$),,$$$,],[($Click to select$),$V$,,],[($Click to select$),$V$,,],[($Click to select$),$V$,$$$,]]($b$)$ Calculate goodwill impairment loss and non$-$controlling interest on the consolidated income statement for the year ended

December $31,$ Year $6,$ under the identifiable net assets method. $($Round intermediate calculations and final answers to whole

number. Omit $ sign in your response.$)$OrSullman Corp. purchased $75\%$ of the outstanding shares of Rabb Ltd$.$ on January $1,$ Year $3,$ at a cost of $$214,200.$ Non$-$controlling

interest was walued at $$75,000$ by an Independent business voluator at the date of acquisition. On that date, fabb had common

shares of $$70,000$ and retained earnings of $$50,000.$ Fair values were equal to carrying amounts for all the net assets except the

following:

The equipment had an estimated remaining useful life of six years on January $1,$ Year $3,$ and the software was to be amortized ower ten

years. FoXx uses the cost method to account for its Imestment. The testing for impaiment at December $31,$ Vear $6,$ yelded the

following fair values:

The impainment loss on these assets occurred entirely in Year $0.$ Amortization expense is grouped with admiristrathe expenses, and

impairment lasses are grouped with miscellaneous expenses. The parent's share of the goodwill noted above is $$92,902.$

The follawing are the flnanclal statements of O'Sullvan Corp. and Its subsildary Ralab Ltd$.$ for Year $$: