a 60 percent interest in Lowly Company on January 1, 2017 for $479,100 in cash. Lowly's book value at that date was reported as $682,500 and the fair value of the noncontrolling interest was assessed at $319,400. Any excess acquisition-date fair value over Lowly's book value is assigned to trademarks to be amortized over 20 years. Subsequently, on January 1, 2018, Lowly acquired a 20 percent interest in Mighty. The price of $294,000 was equivalent to 20 percent of Mighty's book and fair value. Neither company has paid dividends since these acquisitions occurred. On January 1, 2018, Lowly's book value was $901,500, a figure that rises to $945,250 (common stock of $300,000 and retained earnings of $645,250) by year-end. Mighty's book value was $1.47 million at the beginning of 2018 and $1.57 million (common stock of $1 million and retained earnings of $570,000) at December 31, 2018. No intra-entity transactions have occurred and no additional stock has been sold. Each company applies the initial value method in accounting for the individual investments. a. Prepare worksheet entries which are required to consolidate these two companies for 2018? b. What is the net income attributable to the noncontrolling interest for this year? Complete this question by entering your answers in the tabs below. Required A Required B Prepare worksheet entries which are required to consolidate these two companies for 2018? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries 2 3 4 5 Prepare Entry *C to accrue income to parent during the previous years as measured by the increase in book value and amortization expense for the previous year. Note: Enter debits before credits. Transaction Accounts Debit Credit Record entry Clear entry view consolidation entries Consolidation Worksheet Entries