6.

I have already done part a, just need the THREE journal entries for part b. see pictures for the JEs needed. Thanks!

Stage Company operates on a calendar-year basis, reporting its results of operations quarterly. For the first quarter of 201, Stage reported sales of $240,000 and operating expenses of $180,000 and paid dividends of $10,000. On April 1, 20X1, Parachute Theaters Inc. acquired 85 percent of Stage's common stock for $765,000. At that date, the fair value of the noncontrolling interest was $135,000, and Stage had 100,000 outstanding shares of $1 par common stock, originally issued at $6 per share. The differential is related to goodwill. On December 31,201, the management of Parachute Theaters reviewed the amount attributed to goodwill as a result of its purchase of Stage common stock and concluded that goodwill was not impaired. Stage's retained earnings statement for the full year 201 appears as follows: Parachute Theaters accounts for its investment in Stage using the equity method. Required: a. Present all entries that Parachute Theaters would have recorded in accounting for its investment in Stage during 20X1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) b. Present all consolidation entries needed in a worksheet to prepare a complete set of consolidated financial statements for the year 201. Record the preacquisition income and dividends consolidation entry. Record the basic consolidation entry. Record the excess value (differential) reclassification entry