Please show calculations and explain each step by labeling them as a, b,c,d,e,f, g, please.

and Assume that, on January 1, 2010, a parent company acquires a 70% interest in its subsidiary. The total fair value of the controlling and noncontrolling interests was $480,000 over the book value of the sub- sidiary's Stockholders' Equity on the acquisition date. The parent assigned the excess to the following X MIHI (A) assets: [A] Asset Initial Fair Value Useful Life Patent. Goodwill $320,000 160,000 8 years Indefinite $480,000 70% of the Goodwill is allocated to the parent. The parent and the subsidiary report the following pre-consolidation financial statements at December 31, 2016. Parent Subsidiary Cash.... $ 120,000 400.000 880,000 Income statement: Sales Cost of goods sold. Gross profit. Income (loss) from subsidiary Operating expenses... Net income. Parent Subsidiary Balance sheet: $6,000,000 $2,000,000 (4,000,000) (1,200,000) Accounts receivable 2,000,000 800,000 Inventory....... 112,000 Equity investment. (1,500,000 (600,000) Property, plant and equipment (PPE), net. $ 612,000 $ 200,000 $ 200,000 600,000 800,000 1,400,000 2,000,000 $5,000,000 1.200.000 $2,600,000 $ 200,000 600,000 280.000 Statement of retained earnings: BOY retained earnings $1,978,000 Net income Dividends (190,000) EOY retained earnings ... $2,400,000 $ 500,000 1,100,000 600,000 400,000 2,400,000 $970,000 Current liabilities. 200,000 Long-term liabilities (100,000) Common stock. $1,070,000 APIC Retained earnings 612,000 450,000 1.070,000 $2,600,000 $5,000,000 a. b. Disaggregate and document the activity for the 100% Acquisition Accounting Premium (AAP), the controlling interest AAP and the noncontrolling interest AAP. Calculate and organize the profits and losses on intercompany transactions and balances. C. Compute the pre-consolidation Equity Investment account beginning and ending balances starting with the stockholders' equity of the subsidiary. d. Reconstruct the activity in the parent's pre-consolidation Equity Investment T-account for the year of consolidation. Independently compute the owners' equity attributable to the noncontrolling interest beginning and ending balances starting with the owners' equity of the subsidiary. f. Independently calculate consolidated net income, controlling interest net income and noncontrolling interest net income. Complete the consolidating entries according to the C-E-A-D-I sequence and complete the consolidation worksheet. e 8