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Current Attempt in Progress On Jantary 1, 2013, Piper Compary acquired an 80% interest in 5 and Company for $2,300,400. At that time the common stock and retained earnings of Sand Company were $1,730,300 and $686,900, respectively. Differences between the fair value and the book value of the identifiable assets of Sand Company were as follows: The book values of all other assets and liabilities of Sand Company were equal to their fair values on January 1, 2013. The equipment had a remaining useful life of eight years. Inventory is accounted for on a FiFO basis. Sand Company's reported net income and declared dividends for 2013 through 2015 are shown here: Prepare the eliminating/adjustirg entries needed on the consolidated workshect for the years ended 2013, 2014, and 2015. [3) Assume the use of the cost methad, of no entry is required, select "No Entry" for the account tides and enter ofoc the amounts Credlt account tittes are outomatically indented when the amount is entered Do not indent monulailyd. Assame the use of the cost micthod. ff no entry hi required, select "No Entry" for the account titles ond enter O for the amounte. Crentit acmune Htler are a tomaticalbyindented when the amount is enterth Do not indent manualiy? (Te alocate and depreciate the difference botween impled and book value) 2014 (To estabish reciprocity/convert to equicy method as of 1/1/2011) (To eliminate intercompany dividends) (To elininate investment account and crate noncontroling. interect account) (To eliminate investment account and create nencontrolling interest account) (To-aliocate and deprecate the difference between implied and book value) 2015 (To establish reciprocty/convert to equity method as of 1/1/2012) (To allocate and deprecate the difference between implied and book value) 2015 (To establish recierocity/comert to equity method as of 1/1/2012) (To eliminate intercompany dividends) (To elininate investment account and create noncontrolling interest account) (To eliminate investment account and create noncontrolling interest account) (To allocate and depreciate the difference between inpled and book value) eTextbookand Media List of Accounts Sike ise Later Attempts: 0 of 5 used subtuit Anower