please complete each part of the problem

Prepare consolidation spreadsheet for intercompany sale of land - Equity method Assume a parent company acquired its subsidiary on January 1, 2020, at a purchase price that was $360,000 in excess of the book value of the subsidiary's Stockholders' Equity on the acquisition date. Of that excess, $240,000 was assigned to an unrecorded Patent owned by the subsidiary that is being amortized over a 10-year period. The [A] Patent asset has been amortized as part of the parent's equity method accounting. The remaining $120,000 was assigned to Goodwill. In 2021, the wholly owned subsidiary sold Land to the parent for $144,000. The Land was reported on the subsidiary's balance sheet for $96,000 on the date of sale. The parent uses the equity method to account for its Equity Investment. Financial statements of the parent and its subsidiary for the year ended December 31, 2022 are presented in d. below. a. Show the computation to yield the $60,000 of Income (loss) from subsidiary reported by the parent for the year ended December 31, 2022 Note: Use a negative sign with an answer to indicate a reduction in the computation. Net income of subsidiary 0 + 0 + 0 b. Show the computation to yield the $636,000 Equity Investment account balance reported by the parent on December 31, 2022. Note: Use a negative sign with an answer to indicate a reduction in the computation. Common stock 0 APIC O EOY Retained earnings 0 EOY Unamortized AAP O Gain on intercompany sale oO 0 Equity investment c. Prepare the consolidation entries for the year ended December 31, 2022. Consolidation Worksheet peered sida) peas Cre [c) + 0 0 Dividends 0 oO + 0 0O [E]___ | Common stock 0 0 APIC 0 0 + 0 0 * 0 0 [Al Patent 0 oO = 0 0 + 0 0 [D] : 0 0 + O 0 gain] 0 0 = 0 0 d. Prepare the consolidation spreadsheet for the year ended December 31, 2022. Use negative signs with answers in the Consolidated column for Cost of goods sold, Operating expenses and Dividends. Elimination Entries Income statement: Parent Sub Dr Cr Consolidated Sales $3,600,000 $456,000 $ Cost of goods sold (2,520,000) (264,000) 0 Gross profit 1,080,000 192,000 $ Income (loss) from subsidiary 60,000 [C] O o Operating expenses (684,000) (108,000) [D] Net income $456,000 $84,000 $ 0 Statement of retained earnings: BOY retained earnings $864,000 $236,400 [E] 0 $ Net income 456,000 84,000 Dividends (120,000) (20,400) 0 [C] EOY retained earnings $1,200,000 $300,000 $ 0 Balance sheet: Assets Cash $312,000 $144,000 $ Accounts receivable 456,000 96,000 Inventory 696,000 180,000 PPE, net 2,400,000 258,000 0 [Igain] Patent [A] 0 [D] Goodwill [A] o o O Equity investment 636,000 [lgain] 0 [C] 0 [E] O [A] $4,500,000 $678,000 0 Liabilities and stockholders' equity Accounts payable $268,800 $60,000 $ Other currentliabilities 331,200 72,000 Long-term liabilities 1,800,000 150,000 Common stock 480,000 36,000 [E] o o APIC 420,000 60,000 [E] Retained earnings 1,200,000 300,000 $4,500,000 $678,000 $ 0 $ 0 $