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On January 1, 2019, Telconnect acquires 70 percent of Bandmor for $490,000 cash. The remaining 30 percent of Bandmor's shares continued to trade at a total value of $210,000. The new subsidiary reported common stock of $300,000 on that date, with retained earnings of $180,000. A patent was undervalued in the company's financial records by $30,000. This patent had a five-year remaining life. Goodwill of $190,000 was recognized and allocated proportionately to the controlling and noncontrolling interests. Bandmor earns net income and declares cash dividends as follows: On December 31,2021 , Telconnect owes $22,000 to Bandmor. a. If Telconnect has applied the equity method, what consolidation entries are needed as of December 31,2021 ? b. If Telconnect has applied the initial value method, what Entry C is needed for a 2021 consolidation? c. If Telconnect has applied the partial equity method, what Entry C is needed for a 2021 consolidation? d. What noncontrolling interest balances will appear in consolidated financial statements for 2021 ? Answer is complete but not entirely correct. c. If Telconnect has applied the partial equity method, what Entry C is needed for a 2021 consolidation? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1ow less On January 1, 2019, Telconnect acquires 70 percent of Bandmor for $490,000cash. The remaining 30 percent of Bandmor's shares continued to trade at a total value of $210,000. The new subsidiary reported common stock of $300,000 on that date, with retained earnings of $180,000. A patent was undervalued in the company's financial records by $30,000. This patent had a five-year remaining life. Goodwill of $190,000 was recognized and allocated proportionately to the controlling and noncontrolling interests. Bandmor earns net Income and declares cash dividends as follows: On December 31,2021 , Telconnect owes $22,000 to Bandmor. a. If Telconnect has applied the equity method, what consolidation entries are needed as of December 31,2021 ? b. If Telconnect has applied the initial value method, what Entry C is needed for a 2021 consolidation? c. If Telconnect has applied the partial equity method, what Entry C is needed for a 2021 consolidation? d. What noncontrolling interest balances will appear in consolidated financial statements for 2021 ? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. What noncontrolling interest balances will appear in consolidated financial statements for 2021