CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 2 Not complete Marked out of 51.00 P Flag question Inferring consolidation entries from consolidated financial statements-Cost method Assume a parent company acquired a subsidiary on January 1, 2012. The purchase price was $1,362,000 in excess of the subsidiary's book value of Stockholders Equity on the acquisition date, and that excess was assigned to the following [A assets: A] Asset Property. plant and equipment (PPE), net Patent Goodwill Original Amount Original Useful Life 300,000 432,000 630,000 $1,362,000 20 years 12 years Indefinite The parent company uses the cost method of pre-consolidation Equity Investment bookkeeping. The Goodwill asset has been tested annually for impairment and has not been found to be impaired. Selected accounts from the parent, subsidiary, and consolidated financial statements for the year ended December 31, 2016, are as follows