Here is my question, which is similar to Textbook Solution Chapter 9 - 21P Advanced Accounting 10e (Christensen, Cottrell, Budd):

Presley Pools Inc. acquired 60 percent of the common stock of Jacobs Jacuzzi Company on December 31, 20X6, for $2,260,000. At that date, the fair value of the noncontrolling interest was $1,660,000. The full amount of the differential was assigned to goodwill. On December 31, 20X7, Presley Pools management reviewed the amount attributed to goodwill and concluded an impairment loss of $24,000 should be recognized in 20X7. On January 2, 20X7, Presley purchased 20 percent of the outstanding preferred shares of Jacobs for $54,600.

In its 20X6 annual report, Jacobs reported the following stockholders' equity balances at the end of the year:

Preferred Stock (10 percent, $100 par)	$	260,000
Premium on Preferred Stock		8,000
Common Stock		510,000
Additional Paid-In CapitalCommon		810,000
Retained Earnings		1,510,000
Total Stockholders' Equity	$	3,098,000

The preferred stock is cumulative and has a liquidation value equal to its call price of $106 per share. Because of cash flow problems, Jacobs declared no dividends during 20X6, the first time it had missed a preferred dividend. With the improvement in operations during 20X7, Jacobs declared the current stated preferred dividend as well as preferred dividends in arrears; Jacobs also declared a common dividend for 20X7 of $25,000. Jacobs reported net income for 20X7 was $300,000.

I am stuck on 2-items of G-1, the Additional Paid-in Capital and Investment in Jacobs Jacuzzi CS. If I can at least figure out one of them, I can back into the other. Any help on either of the missing numbers would be appreciated!

I tried for Investment in Jacobs Jacuzzi CS: Used answer to b, which is $1,677,840 + [(300,000-26,000) X 60%] - (25,000 X .60%) = $1,827,240 but was wrong when I checked my work. This worked for figuring out solution 9-21.

g.

Prepare all consolidation entries that should appear in a worksheet to prepare a complete set of 20X7 consolidated financial statements for Presley Pools and its subsidiary. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Record the basic consolidation entry.:

1	Preferred stock	260,000
	Premium on preferred stock	8,000
	Common stock	510,000
	Additional Paid-in capital
	Retained earnings	1,510,000
	Income from Jacobs Jacuzzi	164,400
	Dividends income-Preferred	10,400
	NCI in NI of Jacobs Jacuzzi	130,400
	Dividends declared, Preferred		52,000
	Dividends declared, Common		25,000
	Investment in Jacobs Jacuzzi CS
	Investment in Jacobs Jacuzzi PS		54,600
	NCI in NA of Jacobs Jacuzzi		1,438,640