When a parent uses the equity method throughout the year to account for its investment in an acquired subsidiary, which of the following statements is false comparing the amount in parent company records to the one in consolidated financial statements?

Parent company net income equals controlling interest in consolidated net income.

Parent company retained earnings equals consolidated retained earnings.

Parent company total assets equals consolidated total assets.

Parent company dividends equals consolidated dividends.

Goodwill will not be recorded on the parent's books.