Please solve part e , f , g

Consolidation subsequent to date of acquisition - Equity method with noncontrolling interest and AAP Assume that, on January 1, 2009, a parent company acquired an 80% interest in its subsidiary. The total fair value of the controlling and noncontrolling interests was $500,000 over the book value of the subsidiary's Stockholders' Equity on the acquisition date. The parent assigned the excess to the following [A] assets: [A] Asset Initial Fair Value Useful Life (years) Initial Useful [A] Asset Fair Value Life (years) Property, plant and equipment (PPE), net $95,000 10 Customer 155,000 Goodwill 250,000 Indefinite $500,000 list 10 80% of the Goodwill is allocated to the parent. The parent and the subsidiary report the following financial statements at December 31, 2013: Parent Subsidiary Parent Subsidiary Income statement: Balance sheet: Sales $7,330,000 $1,871,500 Assets Cost of goods sold (5,131,000) (1,122,300) Cash $412,113 $132,511 Gross Accounts profit 2,199,000 749,200 receivable 938,240 433,956 Income (loss) from subsidiary 190,296 Inventory 1,422,020 557,409 Operating Equity expenses (1,392,700) (486,330) investment 1,476,471 Property plant and Net equipment income $996,596 262,870 (PPE), net 5,374,356 1,280,669 $9,623,200 $2,404,545 Statement of retained earnings: Liabilities BOY and retained stockholders' earnings $3,682,592 $966,425 equity Net Current income 996,596 262,870 liabilities $1,053,321 $433,956 $1,053,321 $433,956 2,000,000 500,000 Net Current income 996,596 262,870 liabilities Long-term Dividends (199,159) (39,281) liabilities EOY retained Common earnings $4,480,029 $1,190,014 stock APIC Retained earnings 1,198,455 891,395 124,700 155,875 4,480,029 1,190,014 $9,623,200 $2,404,545 Unamorti 1/1/201 47,50 2013 Amortization 9,500 15,500 0 25,000 77,50 250,00 375,00 a. Disaggregate and document the activity for the 100% Acquisition Accounting Premium (AAP), the controlling interest AAP and the noncontrolling interest AAP. Note: Do not use negative signs with any of your answers below. Unamortized Unamortized Unamortized Unamortized Unamortized 2009 AAP 2010 2011 AAP 2012 1/1/2009 Amortization 1/1/2010 Amortization 1/1/2011 Amortization 1/1/2012 Amortization 1/1/2013 Property, plant and equipment (PPE), net 95,000 9,500 85,000 X 9,500 76,000 9,500 66,500 9,500 57,000 Customer list 155,000 15,500 139,500 15,500 124,020 X 15,500 108,500 15,500 93,000 Goodwill 250,000 0 250,000 0 250,000 0 250,000 0 250,000 500,000 25,000 475,000 25,000 450,000 25,000 425,000 25,000 400,000 Parent: Property, plant and equipment (PPE), net 76,000 7,600 68,400 7,600 60,800 7,600 53,200 7,600 45,600 Customer list 124,000 12,400 111,600 12,400 99,200 12,400 86,800 12,400 74,400 Goodwill 200,000 0 200,000 0 200,000 0 200,000 0 200,000 400,000 20,000 380,000 20,000 360,000 20,000 340,000 20,000 320,000 Subsidiary: Property, plant and equipment (PPE), net 19,000 1,900 17,100 1,900 15,200 1,900 13,300 1,900 11,400 Customer list 31,000 3,100 27,900 3,100 24,800 3,100 21,700 3,100 18,600 Goodwill 50,000 0 50,000 0 50,000 0 50,000 0 50,000 100,000 5,000 95,000 5,000 90,000 5,000 85,000 5,000 80,000 38,00 62,00 7,600 12,400 0 20,000 200,00 300,00 1,900 9,50 3,100 15,50 50,00 0 5,000 75,00 b. Calculate and organize the profits and losses on intercompany transactions and balances. Downstream Upstream Jan 1, 2013 No intercompany transactions 0 0 Dec 31, 2013 No intercompany transactions - 0 0 C. Compute the pre-consolidation Equity Investment account beginning and ending balances starting with the stockholders' equity of the subsidiary. Round answers to the nearest whole number. Equity investment at 1/1/13: Common stock APIC Retained earnings Unamortized AAP 99,760 124,700 773,140 320,000 1,317,600 Equity investment at 12/31/13: Common stock APIC Retained earnings Unamortized AAP 99,760 124,700 952,011 300,000 1,476,471 Activat Go to Set d. Reconstruct the activity in the parent's pre-consolidation Equity Investment T-account for the year of consolidation. Round answers to the nearest whole number. Equity Investment Balance at 1/1/13 1,317,600 0 Net income 210,296 31,425 Dividends 0 20,000 AAP amortization Balance at 12/31/13 1,476,471 0 e. Independently compute the owners' equity attributable to the noncontrolling interest beginning and ending balances starting with the owners' equity of the subsidiary. Round answers to the nearest whole number. Noncontrolling interest at 1/1/13: Common stock 0X APIC 0 x Retained earnings X Noncontrolling interest at 12/31/13: Common stock APIC Retained earnings X OX Activate Windows Go to Settings to activate W f. Independently calculate consolidated net income, controlling interest net income and noncontrolling interest net income. Round to nearest whole number. Use negative signs with answers that reduce net income. 0x OX 0 X 0 X Consolidated: Parent's stand-alone net income Subsidiary's stand-alone net income Less: Subsidiary's adjusted stand-alone net income Consolidated net income Parent: Parent's stand-alone net income Subsidiary's stand-alone net income Less: 80% of subsidiary's stand-alone net income Consolidated net income attributable to the parent Subsidiary: 20% of subsidiary's stand-alone net income Less: OX . OX 0 x 0 X > 0 X 0 X Credit g. Complete the consolidating entries according to the C-E-A-D-1 sequence. Consolidation Worksheet Description Debit [ Equity income * * OX Dividends Equity investment 0 X 0 0 0 x 0 OX X 0 0 X [E] Common stock 0 APIC OX 0 X 0 X 0 Equity investment 0 X 0 0 X 0 [A] Property, plant and equipment (PPE), net Customer list 0 X 0 X 0X 0 Equity investment 0 OX x 0 0 X [D] X 0 X 0 0 x Customer list 0