36. Nascent, Inc., acquires 60 percent of The before and after the acquisition date.C liabilities: a Breeze Corporation for $414,000 cash on January 1,2015 percent of the SeaBreeze shares traded near a total value of $27600 bth Corporation 40 n January 1,2015, Sea-Breere had the following assets and Current assets Land Buildings (net) (6-year remaining life) Equipment (net) (4 year remaining life). Patent (10-year remaining life) Liabilities Book Value $150,000 200,000 300,000 300,000 Fair Value $150,000 200,000 360,000 280,000 100,000 (400,000) The companies' financial statements for the year ending December 31, 2018, follow: Nascent Operating expenses. Investment income. $ (600,000) 410,000 42.000) $ (300,000) 210,000 s (90,000 $ (300.000) 90,000) Net income... $ (232 Retained earnings, 1/1/18. Net income Dividends declared $ (700,000) (232.000) 92.000 70,000 $ (840,00 $ (320,000) Retained earnings, 12/31/18. Current assets Land. Buildings (net) Equipment (net) $ 330,000 220,000 700,000 400,000 414,000 $ 100.000 200,000 200,000 500,000 $20640001,0000 Total assets Liabilities Common stock Retained earnings, 12/31/18 $ (500,000) (724,000) $ (200.000) (480,000) Total liabilities and equities Answer the following questions the accountant determine that the parent has applied the initial value method? a. How can b. What is the annual excess amortization initially recognized in connection with th is acquisition? If the parent had applied the equity metho, what investment income woold the parent have recorded in 2018? balance sheet and noncontrolling interests Buildings account? amount should the parent report as retained carnings in its January 1,2018, consolidated amounts are attributable to the controling d What e. What is consolidated net income for 2018 and what f Within consolidated statements at January 1,2018, what balance is included for g. What is the consolidated Builklings repuirted balance as of December 31,20