Tyler Company acquired all of Jasmine Company€™s outstanding stock on January 1, 2009, for $206,000 in cash. Jasmine had a book value of only $140,000 on that date. However, equipment (having an eight year life) was undervalued by $54,400 on Jasmine€™s financial records. A building with a 20-year life was overvalued by $10,000. Subsequent to the acquisition, Jasmine reported the following:

In accounting for this investment, Tyler has used the equity method. Selected accounts taken from the financial records of these two companies as of December 31, 2011, follow:

Determine and explain the following account balances as of December 31, 2011:
a. Investment in Jasmine Company (on Tyler€™s individual financial records).
b. Equity in Subsidiary Earnings (on Tyler€™s individual financial records).
c. Consolidated Net Income.
d. Consolidated Equipment (net).
e. Consolidated Buildings (net).
f. Consolidated Goodwill (net).
g. Consolidated Common Stock.
h. Consolidated Retained Earnings,12/31/11.

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Net Dividends Paid Income 50,000 $10,000 2009 2010 .. 2011.. 5 40,000 20,000 30,000 Jasmine Company Company .- __- .. $310,000) 104,000) 74,000 50,000 68,000 (290,000) (50,000) (410,000) 160,000) Tyler Revenues- operating Expenses Equipment (net) Buildings (net) . Common stock Retained earnings, 1231/11 balance 198,000 320,000 220,000 .