?please answer question D?and picture 2 is the answers for question a,b and c.?

ACC90-APPLICATIONS IN ACCOUNTING EXCEL PROJECT Assume that a parent company acquired a subsidiary on January 1, 2014. The purchase price was $665,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following [Al assets: Original Useful Life 16 years 7 years 10 years Original Amount Asset Patent License Goodwill .245,000 105,000 175,000 $665,000 The [A] assets with definite useful lives have been depreciated or amortized as part of the parent's pre- consolidation equity method accounting. The Goodwill asset has been tested annually for impairment, The financial statements of the parent and its subsidiary for the year ended December 31,2016, are as ParentSubsidiary. Balance Sheet Parent Subsidiary and has not been found to be impaired. follows: Income statement $4,402,000 $1,308,300 Assets 13.457 300) (784,700 Cash $719,600 $337,400 Cost of goods sold Gross profit Equity income Operating expenses 720,300) (340.200) Equity investment 1,530,550 Net income 1,344,700 523,600 Accounts receivable 1,229,200 303,800 1,624,000 389,900 129,150 Inventoy $753.550 $183,400 PPE (net) 2.923.200 721,000 Total Assets$8026.550 S1.752.100 Statement of retained earnings: BOY retained earnings $1,694,700 $676,200 Liabilities and stockholders' equity 753,550 183,400 Accounts payable$702,800 124,600 Net income Dividends (364,000) (28,000) Accrued liabilities 835,800 163,100 Ending retained earnings $2,084,250 $831,600 Long-term liabilities 2,100,000 436,100 527,100 87,500 Common stock APIC Retained earnings 2,084250 831600 1,776,600 109,200 $8,026.550 $1.752.100 a. Compute the Equity Investment balance as of January 1, 2016 b. Show the computation to yield the $129,150 equity income reported by the parent for the year ended December 31, 2016 c. Show the computation to yield the $1,530,550 Equity Investment account balance reported by the parent at December 31, 2016. d. Prepare the consolidation entries for the year ended December 31, 2016. e. Prepare the consolidation spreadsheet for the year ended December 31, 2016. Week 2 Page 1 of 2 02/01/18 ACC90-APPLICATIONS IN ACCOUNTING EXCEL PROJECT Assume that a parent company acquired a subsidiary on January 1, 2014. The purchase price was $665,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following [Al assets: Original Useful Life 16 years 7 years 10 years Original Amount Asset Patent License Goodwill .245,000 105,000 175,000 $665,000 The [A] assets with definite useful lives have been depreciated or amortized as part of the parent's pre- consolidation equity method accounting. The Goodwill asset has been tested annually for impairment, The financial statements of the parent and its subsidiary for the year ended December 31,2016, are as ParentSubsidiary. Balance Sheet Parent Subsidiary and has not been found to be impaired. follows: Income statement $4,402,000 $1,308,300 Assets 13.457 300) (784,700 Cash $719,600 $337,400 Cost of goods sold Gross profit Equity income Operating expenses 720,300) (340.200) Equity investment 1,530,550 Net income 1,344,700 523,600 Accounts receivable 1,229,200 303,800 1,624,000 389,900 129,150 Inventoy $753.550 $183,400 PPE (net) 2.923.200 721,000 Total Assets$8026.550 S1.752.100 Statement of retained earnings: BOY retained earnings $1,694,700 $676,200 Liabilities and stockholders' equity 753,550 183,400 Accounts payable$702,800 124,600 Net income Dividends (364,000) (28,000) Accrued liabilities 835,800 163,100 Ending retained earnings $2,084,250 $831,600 Long-term liabilities 2,100,000 436,100 527,100 87,500 Common stock APIC Retained earnings 2,084250 831600 1,776,600 109,200 $8,026.550 $1.752.100 a. Compute the Equity Investment balance as of January 1, 2016 b. Show the computation to yield the $129,150 equity income reported by the parent for the year ended December 31, 2016 c. Show the computation to yield the $1,530,550 Equity Investment account balance reported by the parent at December 31, 2016. d. Prepare the consolidation entries for the year ended December 31, 2016. e. Prepare the consolidation spreadsheet for the year ended December 31, 2016. Week 2 Page 1 of 2 02/01/18