21. On January 1, 2020, Priceless Memories owns 100% of Sunshine & More, Inc. that reports a Stockholders' Equity of and 40.000 shares of $1 par value common stock outstanding. This acquisition was made at book value. During the year, Sunshine & More sells 10,000 of its unissued shares to outsiders for $50 per share. What is the balance of Priceless Memories' pre-consolidation Equity Investment Account at December 31, 2020? a $1,500,000 b. $ 600,000 c. $1,200,000 d. $-o- 22. On January 1, 2021, Gooch Company acquires 80% of the outstanding common stock of House Inc., for a purchase price of $12,400,000. It was determined that the fair value of the noncontrolling interest in the subsidiary is $3,100,000. The book value of the House's stockholders' equity on the date of acquisition is $10,000,000 and its fair value of net assets is $11,000,000. The acquisition date acquisition accounting premium (AAP) is allocated $600,000 to equipment with a remai. years, and $250,000 to a patent with a remaining useful life of 5 years. The [A] consolidating journal entry (on Gooch's books) to recognize the acquisition date AAP and allocate the ownership interest in those assets to the parent and noncontrolling interests includes: a. Equity investment, credit, $5,350,000 b. Noncontrolling interest, credit, $3,100,000 c. House's retained earnings, debit, $2,000,000 d. Noncontrolling interest, credit, $1,070,000