1. Choco Co. acquired 90% of Allie Co. (Allie has total of 100,000 shares outstanding and Choco acquired 90,000 shares) for $720,000 ($8/share) on January 1, 2020. The market value of Allie's stock was $8/share. Choco uses equity method to report its investment in Allie. 1/1/2020 Choco Co. Allie Co. BV BV FV Current assets $1,368,000 $238,000 $238,000 Equipment [8 years] 164,000 280,000 360,000 Buildings [30 years] 274,000 210,000 270,000 Liabilities $(546,000) $(168,000) $(168,000) Net asset Common stock (300,000) (150,000) Additional paid in capital (460,000) (350,000) Retained earnings (1/1/20] (500,000) (60,000) *note: numbers in this table in () refer to credit balance. During 2020, Allie earned net income of $180,000 and paid dividends of $22,000. 9) Prepare consolidation entry E (journal entry) for consolidated financial statement ending 12/31/2020 (t+1). (3 points) : 10) Choco's net income only from its own operation (excluding 90% of Allies ownership as "Equity in Allie's income") in 2020 was $560,000. What is consolidated net income for 2020 attributable to Choco's controlling interest (i.e., NI:Choco in consolidated income statement)? (4 points) : 11) What is the noncontrolling interest (NCI)'s share of the Allie's net income for the year ended 12/31/2020 (+1) (.e., I.e., NI:NCI in consolidated income statement)? (3 point) 12) What is the beginning balance of the noncontrolling interest (NCI) in the Allie at 12/31/2020 (t+1) (i.e., NCI in Cake 1/1)? (3 points) : 13) What is the ending balance of the noncontrolling interest (NCI) in the Allie at 12/31/2020 (t+1) (i.e., NCI in Cake 12/31)? (4 points)