Foxx Corporation acquired all of Greenburg Company's outstanding stock on January 1, 2011, for $600,000 cash. Greenburg's accounting records showed net assets on that date of 5470,000, although equipment with a 10•year life was undervalued on the records by 590,000. Any recognized goodwill is considered to have an indefinite life. Greenburg reports net Income In 2011 of $90,000 and $100,000 in 2012. The subsidiary paid dividends of $20000 in each of these two years. Financial figures for the year ending December 31, 2013, follow. Credit balances are indicated by parentheses.

a. Determine the December 31. 2013. consolidated balance for each of the following accounts: Depreciation Expense Buildings Dividends Paid Goodwill Revenues Common Stock Equipment b. How does the parent's choice of an accounting method for its investment affect the balances computed in requirement (a)?
c which method of accounting for this subsidiary is the parent actually using for internal reporting purposes?
d If the parent company had used a different method of accounting for this Investment, how could that method have been identified?
e. What would be Foxx's balance for retained earrings as of January 1. 2013. if each of the following methods had been in use?
Initial value method
Partial equity method
Equity method

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Foxx Greenburg $ (800,000) $ (600,000) 100,000 150,000 300,000 350,000 Revenues Cost of goods sold Depreciation expense Investment income Net income Retained earnings, 1/1/13 S(1,100,000) S (320,000) Net income Dividends paid Retained earnings, 12/31/135(1,400,000) S (400,000) Current assets Investment in subsidiary Equipment (net) Buildings (net) Land (20,000) $ (420,000) $ (100,000) (420,000) (100,000) 120,000 20,000 S300,000 $100,000 600,000 900,000 600,000 800,000 400,000 600,000 100,000 Total assets $ 3,200,000 $1,200,000 $ (900,000) $ (500,000) Common stock Retained earnings Total liabilities and equity (1,400,000) (400,000) $(3,200,000)S(1,200,000)