On January $1,2019.$ Aronsen Company acquired $90$ percent of Sledel Company's outstanding shares. Sledel had a net book value on that date of $$504,300$ : common stock $($ $$10$ par value$)$ of $$207,500$ and retalned earnings of $$296,800.$

Aronsen pald $$600,300$ for this investment. The acquisition$-$date falr value of the $10$ percent noncontrolling interest was $$66,700.$ The excess falr value over book value assoclated with the acquisition was used to increase land by $$82,220$ and to recognize copyrights $(16-$year remaining life$)$ at $$80,480.$ Subsequent to the acquisition. Aronsen applied the initial value method to its investment account.

In the $2019-2020$ period, the subsidiary's retained earnings increased by $$100,600.$ During $2021,$ Sledel earned income of $$81,500$ while declaring $$20,300$ in dividends. Also, at the beginning of $2021.$ Sledel issued $4,150$ new shares of common stock for $$38$ per share to finance the expansion of its corporate facilities. Aronsen purchased none of these additional shares and therefore recorded no entry.

Prepare the approprlate $2021$ consolidation entries for these two companles. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" In the first account field$)$

Consolidation

Worksheet Entries

$2434435$

Prepare entry $*C$ to convert to the equity method.

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