1 . Prep pays $450,000 for 80% interest in Snap on January 1 2006, when Snap stockholders' equity consists of $250,000 capital stock and $160,000 retained earnings. The excess of investment cost is allocated to Goodwill Asset Cash Account Receivable Other Current Asset 120,000 20,000 Equipment, Net Building Net Land Total Asset PrepSnap 100,000 50,000 50,000 60,000 200,000 300,000 50,000 80,000 150,000 250,000 670,000 960,000 Liabilities Account Payable Note Payable Total Liabilities Shareholder Equity Capital Retained Earning Total S.E 250,000 300,000 150,000 250,000 400.000 550,000 200,000 250,000 70,000 60,000 270,000 410,000 Snape declare 2006 Net income 150,000 Dividend 30,000 a. Calculation the income from Snap in 2006 b. Dividends from Snap for 2006 c. Investment is Snap during the year 2006 d. Minority interest expense in 2006 e. What is the minority interest balance at the end of the year 2006 f. What is Invest balance of Prep in Snap at the end of the year 20006 g. Prepare the consolidation