Big Co$.$ owns $60\%$ of Little Co$,$ and uses the full equity method to account for their investment.

Assume Little had zero accumulated depreciation at acquisition several years ago.

It is now $2021.$ On $1/1/21$ Little sells PPE to Big for $$28,000.$ The PPE originally cost $$50,000,$ and was originally purchased on $1/1/15.$

It was expected to have a $12$ year useful life.

Required: Prepare elimination entries and complete the following worksheets

PLEASE NOTE THAT THE FIRMS ARE USING A SEPARATE ACCUMULATED DEPRECIATION ACCOUNT!!!!!!!!!!

That will affect how the realization of the gain is recorded, and how the unrealized portion is carried forward to the following years!!!

Please note also that the number $13,200$ shows up a few times; that's just a coincidence.

Please answer all of the unanswered questions that are under questions. The unanswered questions are: What is the value in cell E$31,$ F$31,$ G$15,$ G$20,$ O$31,$ P$31,$ and Q$20.$ Please provide correct answers.