10 01:07:21 Peel Corporation purchased 60 percent of Split Products Company's shares on December 31, 2007, for $2.000. At that date, the fa value of the noncontrolling interest was $144,000. On January 1, 20x9, Peel purchased on additional 20 percent of Spit's common stock for $99.000 Summarized balance sheets for Split on the dates Indicated are as follows 2007 December 31 2018 3083 Assets Cash Accounts Receivable Inventory $ 47,000 51,000 71,000 5.77,000 5.97,000 91,000 121,000 101,000 161,000 Buildings & Equipment (net) 350,000 Total Assets $619,000 Liabilities & Equities Accounts Payable Bonds Payable Conson Stock Retained Earnings Total Liabilities & Equities 370,000 $539,000 $ 74,000 105,000 155,000 205,000 $539,000 5 124,000 105,000 155,000 235,000 $610,000 330,000 1709,000 $ 104,000 105,000 155,000 205,000 $ 709,000 Split paid dividends of $24,000 in each of the three years. Peel uses the equity method in accounting for its investment in Split and amortizes all differentials over 10 years against the related investment income. All differentials are assigned to patents in the consolidated financial statements. Required: a. Compute the balance in Peel's Investment in Split Products Company Stock account on December 31, 20x8. b. Compute the balance in Peel's Investment in Split Products Company Stock account on December 31, 20X9. c. Prepare the consolidation entries needed as of December 31, 20X9, to complete a worksheet. Complete this question by entering your answers in the tabs below.