On December $31,$ Year $3,$ Mueller Corp. acquired $80\%$ of the outstanding shares of Wilson Inc. for a total cost of $$268,000.$ The carrying amount of Wilson$$s assets, liabilities, and equity was equal to fair value except for the following:

Carrying Amount Fair Value

Inventory $ $60,900$ $ $69,800$

Equipment, net $279,000285,000$

Patent $41,800$

Long$-$term debt $189,000161,800$

Common shares $184,000?$

Retained earnings $43,800?$

As at December $31,$ Year $3,$ the equipment and patent had an estimated useful life of six and eight years, respectively. The long$-$term debt is due on January $1,$ Year $9.$ There was a goodwill impairment loss of $$3,000$ in Year $5.$ There were no other impairment losses.

Mueller uses the cost method to account for its investment in Wilson. The book values of selected accounts for the year ended December $31,$ Year $7$ were as follows:

Mueller Wilson

Dividend income $ $12,900$

Net income $63,800$ $ $27,800$

Common shares $104,500184,000$

Retained earnings $268,000128,000$

Required:

$($a$)$ Prepare a schedule of changes to the acquisition differential for the four year period ending December $31,$ Year $7.($Leave no cells blank $-$ be certain to enter $"0"$ wherever required. Omit $ sign in your response. Negative$/$Deductible amounts should be indicated by a minus sign.$)$

Balance

Dec. $1$ Changes Balance

Dec. $31$

Year $3$ Year $4,5$&$6$ Year $7$ Year $7$

Inventory $

$

$

$

Equipment $(6$ years$)$

Patents $(8$ years$)$

Long$-$term debt $(5$ years$)$

Goodwill

$

$

$

$

$($b$)$ Calculate consolidated net income attributable to the parent, ending retained earnings and non$-$controlling interest at December $31,$ Year $7.($Omit $ sign in your response.$)$

Consolidated net income attributable to the parent $

Consolidated retained earnings $

Non$-$controlling interest $