Assume that on January 1, 2019. Kuehler Company acquired 50 interest in Eastwood Company for a purchase price that was 550.000 over the book value of the subsidy's Shaders Equity on the acquisition date Kuehler uses the cost method to account for its investment in Eastwood on the date of acquisition, Eastwood retained earnings balance was $100.000 assigned the acquisition date AAP as follows: a value Useful Life years 3350.000 100 000 5 10 50.000 indefinite of the Goodwil is allocated to the parent. Kuehler and Eastwood report the following financial statements December 31, 2022 income statement ler and 6.000 150.000 Costoso 30.000 come fosfrom subsidiary 10.000 - 150.000 -165,000 1254000 5155.000 Statement of Retained Earnings Kuehler Eastwood BOY Retained Earnings $878,440 $420,000 Net income 254,000 155,000 Dividends -175,000 -12,500 Ending Retained Earnings $957,440 $562,500 Balance Sheet Kuehler Eastwood Assets: Cash $55,000 $54,000 Accounts receivable 46,000 24,000 Inventory 95,000 95,112 Investment in subsidiary 834,880 PPE, net 340,060 1,873,188 $1,370,940 $2,046,300 Liabilities and Stockholders' Equity: Current Liabilities $75,000 $400,200 Long-term Liabilities 150,000 790,000 Common Stock 63,500 118,100 APIC 125,000 175,500 Retained Earnings 957,440 562,500 $1,370,940 $2,046,300 Required a. Compute the EOY noncontrolling interest equity balance. Assume that on January 1, 2019. Kuehler Company acquired 50 interest in Eastwood Company for a purchase price that was 550.000 over the book value of the subsidy's Shaders Equity on the acquisition date Kuehler uses the cost method to account for its investment in Eastwood on the date of acquisition, Eastwood retained earnings balance was $100.000 assigned the acquisition date AAP as follows: a value Useful Life years 3350.000 100 000 5 10 50.000 indefinite of the Goodwil is allocated to the parent. Kuehler and Eastwood report the following financial statements December 31, 2022 income statement ler and 6.000 150.000 Costoso 30.000 come fosfrom subsidiary 10.000 - 150.000 -165,000 1254000 5155.000 Statement of Retained Earnings Kuehler Eastwood BOY Retained Earnings $878,440 $420,000 Net income 254,000 155,000 Dividends -175,000 -12,500 Ending Retained Earnings $957,440 $562,500 Balance Sheet Kuehler Eastwood Assets: Cash $55,000 $54,000 Accounts receivable 46,000 24,000 Inventory 95,000 95,112 Investment in subsidiary 834,880 PPE, net 340,060 1,873,188 $1,370,940 $2,046,300 Liabilities and Stockholders' Equity: Current Liabilities $75,000 $400,200 Long-term Liabilities 150,000 790,000 Common Stock 63,500 118,100 APIC 125,000 175,500 Retained Earnings 957,440 562,500 $1,370,940 $2,046,300 Required a. Compute the EOY noncontrolling interest equity balance
