11. The following information pertains to the entity P and consolidated subsidiary for the year ended 12/31/21. P has owned 100% of S since 12/31 2020. On that date, S had common stock and retained earnings of$3,000 and $27,000 respectively. The purchase price was $ $50,000 due to the existence of a copyright with a remaining economic life of 20 years. S earned $3,000 and paid dividends of $1,500.

A. Compute for 2021:

1. Full Equity Income _____________and the adjustment to opening balance 2021 retained earnings.____________

1.Cost method income ____________and the adjustment to opening 2021 balance retained earnings___________