I need help calculating 1 and 3. Please show all calculations.

Problem 3-31 (Algo) (LO 3-1, 3-3a, 3-3b, 3-4) On January 1, 2020, Pinnacle Corporation exchanged $3,561,500 cash for 100 percent of the outstanding voting stock of Strata Corporation. On the acquisition date, Strata had the following balance sheet Cash 242,eee Accounts payable Accounts receivable 434, 800 368, 809 Inventory Long-term debt 2,780, een 394.809 Comon stock Buildings (net) 1, 582, ece 1, 870, 8.OR Retained earnings 1, 480, 800 Licensing agreements 3,240,600 Total assets $ 6, 114,608 Total Liabilities and equity $ 6, 114, cee Pinnacle prepared the following fair-value allocation: Fair value of Strata ( consideration transferred) 1 3, 561,508 Carrying amount acquired 2,900, 808 Excess fair value 661,508 to buildings (undervalued) $ 348, e80 to Licensing agreements (overvalued) (136, 280) 212, 028 to goodwill (Indefinite Life) $ 449,508 At the acquisition date, Strata's buildings had a 10-year remaining life and Its licensing agreements were due to expire In 5 years. On December 31, 2021, Strate's accounts payable Included an $96,800 current liability owed to Pinnacle. Strata Corporation continues its separate legal existence as a wholly owned subsidiary of Pinnacle with Independent accounting records. Pinnacle employs the Initial value method in its internal accounting for its Investment in Strata. The separate financial statements for the two companies for the year ending December 31, 2021, follow. Credit balances are Indicated by parentheses. Pinnacle Strata Sales S (7.591, 080) $ (3, 523,eem) Cast of goods sold 4. 860, Pee 2,075, een Interest expense 250. 08d 265,608 Depreciation expense 636, 080 390,060 Amortization expense Dividend Income (55, Dee) Net income $ (1, 900, Dee) $ (284,608) Retained earnings 1/1/21 (5, 480, Bee) 5 (1,666,600) Net income (1, 808, Dee) (284, ECO) Dividends declared 408, Be8 55,060 Retained Earnings 12/31/21 5 (6, 988, 809) $ (1,815,620) Cash 231,080 547, 160 Accounts receivable 1, 415, 080 367, 500 Inventory 2,545, De8 1,610,680 Investment in Strata 3,561,584 Buildings (net) 5,745, PB0 2,682, Gee Licensing agreements 1, 944, 680 Goodwill 395,098 Total assets $ 12, 892,580 $ 6,470,608 Accounts payable (322,509) 5 [840,600) Long-term debt (2,598,808) (2, 315,608) Common stock (3,008, 080) (1, 560,cea) Retained earnings 12/31/21 (6.988, Bea) (1,915,600) Total Liabilities and Owner's $( 12, 892, 580) $ (6, 470,608) equity a. Prepare a worksheet to consolidate the financial information for these two companies. b. Compute the following amounts that would appear on Pinnacle's 2021 separate (nonconsolidated) financial records if Pinnacle's investment accounting was based on the equity method. . Subsidiary income. . Retained earnings, 11/21. - Investment In Strata. c. What effect does the parent's internal Investment accounting method have on its consolidated financial statements? Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the following amounts that would appear on Pinnade's 2021 separate (nonconsolidated) financial records if Pinnacle's investment accounting was based on the equity method. (Input ail amounts as positive value.) Amounts Subsidiary income Retained eamings 1/1/21 $6 739 000 3 Investment in Strata Required A Required C &gt