2. On December 31, 2020, Parent company (A) acquired 80% of Subsidiary (B) outstanding common stocks for SR 368,000, Subsidiary's fair value of net asserts was SR 460,000. During 2021, subsidiary net income and dividends declared were 100,000 and 50,000 respectively. Begging balance for Accumulated depreciation of subsidiary's equipment amounted to SR 50,000. Parent uses non-pushdown accounting and equity method Subsidiary's fair value of net assets were as follows (5 marks) Book Value Element Amount in SR 150,000 120,000 270,000 Common Stock Retained Earning Total Under Or Over Valuation Inventory Land Equipment Total Under Or Over Valuation Good Will Total Under-Or Over Valuation (10,000) 50,000 100,000 2 Months No Useful Life 4 Years 140,000 50,000 490,000 No Useful Life Required: 1. Pass journal entries to record basic elimination entries. 2. Pass journal entries to record the excess value reclassification entry 3. Pass journal entries to record the amortized excess value reclassification entry 4. Pass journal entries to record the depreciation elimination entry if accumulated depreciation account based on book value of assets is 25,000