At June 30, 2020, DataFile reports net income of $3,500,000 and other comprehensive loss of $25,000 and declared and paid dividends of $200,000 to IBM. year-end impairment testing in 2020 reveals no impairment loss for brand names, whereas goodwill is impaired by $700,000. Prepare the consolidating entries.

Consolidating Entries DR CR End of Year 2 - June 30, 2020 IBM Data File Current assets Plant and equipment Patents and copyrights Investment in Data File 17,000,000 160,000,000 2,400,000 26,415,000 3,200,000 62,000,000 600,000 Consolidated Balance 20,200,000 222,000,000 3,000,000 26,415,000 Brands Names Favorable Lease Customer Contracts Goodwill Current liabilities Long-term debt Common stock, $.50 par Additional paid in capital Retained earnings Accumulated other comprehensive income Dividends Pay Sales Revenue Equity in NI Equity in OCI Cost of Goods Sold Operating Expense (18,000,000) (94,820,000) (2,000,000) (59,000,000) (21,200,000) (1,140,000) 1,200,000 (550,000,000) (800,000) 25,000 450,000,000 90,000,000 (80,000) (10,000,000) (44,585,000) (500,000) (1,700,000) (5,400,000) (340,000) 200,000 (110,000,000) (28,000,000) (139,405,000) (2,500,000) (60,700,000) (26,600,000) (1,480,000) 1,400,000 (660,000,000) (800,000) 25,000 518,000,000 128,500,000 (55,000) 68,000,000 38,500,000 25,000 OCI