(50 points) On January 1, 2014, Pearce Company acquired the control of Searl company. The detail of the deal is as follows. 80% % of interest in the capital stock of Searl Co 2,448,880 $ amount that Pearce company paid for the interest 1,460,200 Searl co's capital stock on 1/1/14 281,400 Searl co's retained earnings on 1/1/14 391,700 to equipment of Searl Company with a five-year remaining life. 203,300 to land held by Searl Company. 114,500 to inventory of Searl Company. Searl uses the FIFO assumption in pricing its inventory, and 610,000 that could not be assigned to specific assets or liabilities of Searl Company. 1,319,500 Total At year-end 2014 and 2015, Pearce had in its inventory merchandise that it had purchased from Searl at a 25% markup on cost during each year in the following amounts (each year, Searl sold $500,000 of merchandise to Pearce): 2014 $94,100 2015 $109,900 2014 2015 Pearce company's NI from independent operations 1 1,487,200 1,762,000 Searle' NI 2 646,500 775,500 Searle' Div 150,000 200,000 1. By independent, it means no divided income or equity income (or subsequent adjustment if complete equity method is used) are recorded. 2. including sales to affiliate A. Determine consolidated net income for 2014 and 2015. B. Determine NCI income for 2014 and 2015. C. Determine NI att. to P (In the exam pool, we had this as the controlling interest in consolidated net income) for 2014 and 2015. D. Assuming Pearce uses cost method, determine net income that Pearce Co. would record in its own book for for 2014 and 2015. E. Assuming Pearce uses partial equity method, determine net income that Pearce Co. would record in its book for 2014 and 2015. F. Assuming Pearce uses complete equity method, determine net income that Pearce Co. would record in its book for 2014 and 2015. G. Prepare eliminating entries for cost equity method in 2015. H. Prepare eliminating entries for partial equity method in 2015. I. Prepare eliminating entries for complete equity method in 2015