2. The trial balance of Salmon Company at January 1, 2019 is as follows, along with estimated fair values of its assets and liabilities: Book Value Fair Value Dr (Cr) Dr (Cr) Current assets Plant & equipment, net Client contracts Liabilities Capital stock Retained earnings Total $200 29,000 0 (15,000) (14,000) (200) 400 40,000 5,000 (15,300) 0 Information on the revalued assets and liabilities is as follows: Revaluation Current assets (inventory) Plant & equipment Client contracts Liabilitie:s Goodwill Remaining Life as of January 1, 2019 FIFO, sold in 2019 20 years, straight-line 5 years, straight-line 3 years, straight-line No impairment Perch Corporation paid $80,000 in cash to acquire 90% of the voting stock of Salmon Company on January 1, 2019. The noncontrolling interest was valued at $7,000 at the date of acquisition. It is now December 31, 2020, two years after the acquisition. Salmon reported net income of $4,000 in 2020 and declared no dividends. Salmon's January 1, 2020 retained earnings balance is $1,000. Perch uses the complete equity method to account for the investment in Salmon on its own books Required Calculate the total goodwill at January 1, 2019, and its allocation to the controlling and noncontrolling interest. Calculate equity in net income of Salmon and the noncontrolling interest in net income of Salmon for 2020. Calculate the December 31, 2020 Investment in Salmon balance. Prepare the eliminating entries, in journal form, to consolidate Perch and Salmon at December 31, 2020 C. d