Current Attempt in Progress

On January $1.2013.$ Piper Company acquired an $80\%$ interest in Sand Company for $$2,271\mathrm{.}100.$ At that time the common stock and retained earnings of Sand Company were $$1,821\mathrm{.}100$ and

$$730,500,$ respectively. Differences between the fair value and the book value of the identifiable assets of Sand Company were as follows:

The book values of all other assets and liabilities of Sand Company were equal to their fair values on January $1,2013.$ The equipment had a remaining useful life of eight years. Inventory is

accounted for on a FIFO basis. Sand Company's reported net income and declared dividends for $2013$ through $2015$ are shown here:

Prepare the eliminating$/$adjusting entries needed on the consolidated worksheet for the years ended $2013,2014,$ and $2015.$

Assume the use of the cost method. $($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered

Do not indent manually.j

Question $3$ of $4$

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