Answer 1-4. Prepare an 1.allocation/amortization schedule for years 2016 and 2017.

2. Calculate the noncontrolling and controlling interest shares in Son's income for each of the two years.

3. Calculate the noncontrolling interest that should be reported on the consildated balance sheet at the end of each of the two ways.

4. Pop uses the equity method to record their Investment in Son. Calculate the ending balance in the Investment in Son account for each of the two years.

Q 4-1. Pop acquired 80% of the outstanding common stock of Son on January 1,2016 for $4,000 cash. Son reported common stock on that date of $2,000 and retained earnings of $1,000. Any excess fair value over the identified assets and liabilities is allocated to goodwill. Following is the summary of balance sheet information for the identified assets and liabilities immediately after the acquisition on January 1 , 2016. The fair values of Son's net assets remained the same in 2016 and in 2017. Required - for two years after acquisition: 1. Prepare an allocation/amortization schedule for years 2016 and 2017 2. Calculate the noncontrolling and controlling interest shares in Son's income for each of the two years. 3. Calculate the noncontrolling interest that should be reported on the consolidated balance sheet at the end of each of the two years. 4. Pop uses the equity method to record their Investment in Son. Calculate the ending balance in the Investment in Son account for each of the two years. Q 4-1. Pop acquired 80% of the outstanding common stock of Son on January 1,2016 for $4,000 cash. Son reported common stock on that date of $2,000 and retained earnings of $1,000. Any excess fair value over the identified assets and liabilities is allocated to goodwill. Following is the summary of balance sheet information for the identified assets and liabilities immediately after the acquisition on January 1 , 2016. The fair values of Son's net assets remained the same in 2016 and in 2017. Required - for two years after acquisition: 1. Prepare an allocation/amortization schedule for years 2016 and 2017 2. Calculate the noncontrolling and controlling interest shares in Son's income for each of the two years. 3. Calculate the noncontrolling interest that should be reported on the consolidated balance sheet at the end of each of the two years. 4. Pop uses the equity method to record their Investment in Son. Calculate the ending balance in the Investment in Son account for each of the two years