On January 1, Year 2, Gros Corporation acquired 70% of the outstanding common shares of Petite Company for a total cost of $84,000. On that date, Petite had $35,000 of common shares and $25,000 of retained earnings. The carrying amounts of each of Petite's identifiable assets and liabilities were equal to their fair values except for the following:

The equipment had an estimated useful life of 10 years as at January 1, Year 2, and the entire inventory was sold during Year 2. Selected account balances from the records of Gros and Petite for the year ended December 31, Year 6, were as follows:

Additional Information
€¢ Gros uses the cost method to account for its investment in Petite.
€¢ An independent valuator has estimated that the goodwill associated with Gros's acquisition of Petite had a recoverable amount of $28,000 as of December 31, Year 6.
Required:
(a) Determine the amounts on the Year 6 consolidated financial statements for the above-noted accounts.
(b) If the independent appraisal of the recoverable amount for goodwill as at December 31, Year 6, showed an amount of $8,000 instead of the $28,000 indicated above, what would be the impact on the following?
(i) Consolidated net income attributable to Gros's shareholders
(ii) Consolidated retained earnings
(iii) Consolidated net income attributable to non-controlling interest

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Carrying aou Inventory Equipment $45,000 70,000 Fair value $55,000 90,000 Petite $150,000 326,000 80,000 160,000 Inventory Equipment, net Goodwill Retained earnings, end of year Non-controlling interest on balance sheet 270,000 50,000 Cost of goods purchased Change in inventory Amortization expense Non-controlling interest on income statement Net income Dividends paid 500,000 20,000 35,000 450,000 12,000 20,000 90,000 30,000 48,000 10,000