posting this question for the 4 time, please make it right Exercice II Partner company and Subsidiary

posting this question for the 4 time, please make it right

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Exercice II Partner company and Subsidiary company reported the following balance sheets @ 12/31/2020. Cash Other Assets Total Assets Liabilities Capital stock, par $10 Additional paid-in capital Retained Earnings Total Liabilities and Equity Partner $ 925.000 450.000 Subsidiary $ 200.000 300.000 $ 1,375.000 $ 500.000 $ 275.000 $ 100.000 550.000 350.000 425.000 30.000 125.000 20.000 $ 1,375.000 $ 500.000 On 1/1/2021, Partner acquired 85% of Subsidiary's voting stocks @ $425,000 cash. At that date, the fair value of Subsidiary's Net Assets were equal to their book values. Assume that the only change to the above individual statements is the accounting of the initial investment: Investment in Subsidiary Cash Debit $425.000 Credit $425.000 During 2021, Parent reported earnings of $95,000, and paid dividends of $30,000. For that same period, Subsidiary's earned net income of $ 55,000, and paid dividends of $ 18,000. Required: 1. Prepare the consolidated Balance Sheet after the acquisition date. 2. Calculate the value of the Investment in Subsidiary account for Parent @ 12/31/2021. Exercice II Partner company and Subsidiary company reported the following balance sheets @ 12/31/2020. Cash Other Assets Total Assets Liabilities Capital stock, par $10 Additional paid-in capital Retained Earnings Total Liabilities and Equity Partner $ 925.000 450.000 Subsidiary $ 200.000 300.000 $ 1,375.000 $ 500.000 $ 275.000 $ 100.000 550.000 350.000 425.000 30.000 125.000 20.000 $ 1,375.000 $ 500.000 On 1/1/2021, Partner acquired 85% of Subsidiary's voting stocks @ $425,000 cash. At that date, the fair value of Subsidiary's Net Assets were equal to their book values. Assume that the only change to the above individual statements is the accounting of the initial investment: Investment in Subsidiary Cash Debit $425.000 Credit $425.000 During 2021, Parent reported earnings of $95,000, and paid dividends of $30,000. For that same period, Subsidiary's earned net income of $ 55,000, and paid dividends of $ 18,000. Required: 1. Prepare the consolidated Balance Sheet after the acquisition date. 2. Calculate the value of the Investment in Subsidiary account for Parent @ 12/31/2021.