A couple of years ago, Plattsville Corporation acquired 65 percent of Somerton Corporations stock for a cost of $38,700,000. At that time, the fair value of the noncontrolling interest was $17,300,000 and the book value of Somerton was $10,000,000. The $46,000,000 excess of fair value over book value was attributed solely to goodwill. Plattsville used the complete equity method to account for its investment in Somerton in its general ledger. Currently, it is the fiscal year-end December 31, 2020. The following information is available. The accumulated goodwill impairment as of the beginning of fiscal 2020 is $2 million. Goodwill impairment for fiscal 2020 is $300,000. Somerton Corp. sells merchandise to Plattsville. Unconfirmed intercompany profit in Plattsvilles inventory at the beginning of fiscal 2020 is $600,000. Unconfirmed intercompany profit in Plattsvilles inventory at the end of fiscal year 2020 is $500,000. The total sales of merchandise from Somerton to Plattsville during fiscal year 2020 are priced by Somerton at $30 million. Plattsville sold land it carried on its financial records at $1 million to Somerton at the beginning of fiscal 2017for $2,500,000. Somerton still reports the land on its financial records. Plattsville sold equipment it carried at net book value of $7 million to Somerton at the beginning of fiscal year 2019 for $9 million. Somerton and Plattsville estimate the equipment had a 5-year life using straight-line amortization. Somerton still carries the equipment on its books. The following are the trial balances for Plattsville and Somerton as of December 31, 2020.

Plattsville Somerton Cash and receivables 2,000,000 800,000 Inventories 40,000,000 16,500,000 Plant assets, net 300,000,000 92,000,000 Investment in Somerton 40,315,000 Liabilities -285,760,000 -90,300,000 Capital stock -50,000,000 -3,000,000 Retained earnings, beginning of year -42,000,000 -14,000,000 Sales revenue -250,000,000 -150,000,000 Equity in net income of Somerton -1,555,000 Cost of goods sold 220,000,000 100,000,000 Operating expense 27,000,000 48,000,000 Combined total 0 0 Required: a. Determine the percent allocation of goodwill between Plattsville and the noncontrolling interest in Somerton. b. Prepare a schedule calculating fiscal 2020 equity in net income of Somerton and noncontrolling interest in the net income of Somerton. c. Prepare a schedule calculating the December 31, 2020, balance for Investment in Somerton reported in Plattevilles books. d. Prepare a consolidation working paper (matrix) for fiscal 2020. e. Prepare a consolidated balance sheet as of December 31, 2020, and a consolidated income statement for fiscal 2020, in good form.