Both Alpha and Delta utilized the partial equity method to account for their investment balances. Following are the individual financial statements for the companies for 2018 with consolidated totals. Alpha Company $ (909, 200) 5e1,eee 297, eee (220, 800) $ (332,000) Delta Company $ (693,510) 326, een 141,000 (49,490) $ (276,000) Omega Company $ (285, 7ee) 131, eee 84, eee @ (70,700) Consolidated Totals $(1,625, 410) 699,730 543,780 $ (381,980) 50,643 Sales Cost of goods sold Operating expenses Income of subsidiary Separate company net income Consolidated net income Net income attributable to noncontrolling interest (Delta Company) Net income attributable to noncontrolling interest (Omega Company) Net income attributable to Alpha Company Retained earnings, 1/1/18 Net income (above) Dividends declared Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Delta Company Investment in Omega Company Property, plant, and equipment Copyrights Total assets Liabilities Common stock Retained earnings, 12/31/18 Noncontrolling Interest in Delta Company, 12/31/18 Noncontrolling interest in Omega Company, 12/31/18 Total liabilities and equities 17,565 $ (313,772) $ (732,500) $ (565,000) $ (124, eee) $ (691, 056) (332,000) (276, eee) (72,700) (313,772) 50,000 4e eee 50,000 50,000 $(1,014,500) $ (801, 800) $ (144,700) 5 (954,828) $ 303,400 $ 445,150 $ 24,700 $ 773,250 317,600 507,500 180,000 975, 570 889,600 e 273,350 507,000 347,500 329,000 1,183,500 283,850 $ 2,017,000 $ 1,573,500 $ 533,700 $ 3,216,170 $ (802,500) $ (652,500) $ (289, 800) $(1,744,000) (200,000) (120, eee) (100,000) (200,000) (1,014,500) (801,000) (144,700) (954,828) (207,482) (109860) $(2,817,600) $(1,573,500) S (533,700) $(3,216,170) Develop the worksheet entries necessary to derive these reported balances: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) On January 1, 2016. Alpha acquired 80 percent of Delta. Of Delta's total business fair value, $191,000 was allocated to copyrights with a 20-year remaining life. Subsequently, on January 1, 2017, Delta obtained 70 percent of Omega's outstanding voting shares. In this second acquisition, $145,800 of Omega's total business fair value was assigned to copyrights that had a remaining life of 12 years. Delta's book value was $655,000 on January 1, 2016 and Omega reported a book value of $164,000 on January 1, 2017. Delta has made numerous inventory transfers to Alpha since the business combination was formed. Intra-entity gross profits of $24.200 were present in Alpha's inventory as of January 1, 2018. During the year, $263,000 in additional intra-entity sales were made with $28.930 in Intra-entity gross profits in inventory remaining at the end of the period. Both Alpha and Delta utilized the partial equity method to account for their investment balances. Following are the individual financial statements for the companies for 2018 with consolidated totals. Both Alpha and Delta utilized the partial equity method to account for their investment balances. Following are the individual financial statements for the companies for 2018 with consolidated totals. Alpha Company $ (909, 200) 5e1,eee 297, eee (220, 800) $ (332,000) Delta Company $ (693,510) 326, een 141,000 (49,490) $ (276,000) Omega Company $ (285, 7ee) 131, eee 84, eee @ (70,700) Consolidated Totals $(1,625, 410) 699,730 543,780 $ (381,980) 50,643 Sales Cost of goods sold Operating expenses Income of subsidiary Separate company net income Consolidated net income Net income attributable to noncontrolling interest (Delta Company) Net income attributable to noncontrolling interest (Omega Company) Net income attributable to Alpha Company Retained earnings, 1/1/18 Net income (above) Dividends declared Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Delta Company Investment in Omega Company Property, plant, and equipment Copyrights Total assets Liabilities Common stock Retained earnings, 12/31/18 Noncontrolling Interest in Delta Company, 12/31/18 Noncontrolling interest in Omega Company, 12/31/18 Total liabilities and equities 17,565 $ (313,772) $ (732,500) $ (565,000) $ (124, eee) $ (691, 056) (332,000) (276, eee) (72,700) (313,772) 50,000 4e eee 50,000 50,000 $(1,014,500) $ (801, 800) $ (144,700) 5 (954,828) $ 303,400 $ 445,150 $ 24,700 $ 773,250 317,600 507,500 180,000 975, 570 889,600 e 273,350 507,000 347,500 329,000 1,183,500 283,850 $ 2,017,000 $ 1,573,500 $ 533,700 $ 3,216,170 $ (802,500) $ (652,500) $ (289, 800) $(1,744,000) (200,000) (120, eee) (100,000) (200,000) (1,014,500) (801,000) (144,700) (954,828) (207,482) (109860) $(2,817,600) $(1,573,500) S (533,700) $(3,216,170) Develop the worksheet entries necessary to derive these reported balances: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) On January 1, 2016. Alpha acquired 80 percent of Delta. Of Delta's total business fair value, $191,000 was allocated to copyrights with a 20-year remaining life. Subsequently, on January 1, 2017, Delta obtained 70 percent of Omega's outstanding voting shares. In this second acquisition, $145,800 of Omega's total business fair value was assigned to copyrights that had a remaining life of 12 years. Delta's book value was $655,000 on January 1, 2016 and Omega reported a book value of $164,000 on January 1, 2017. Delta has made numerous inventory transfers to Alpha since the business combination was formed. Intra-entity gross profits of $24.200 were present in Alpha's inventory as of January 1, 2018. During the year, $263,000 in additional intra-entity sales were made with $28.930 in Intra-entity gross profits in inventory remaining at the end of the period. Both Alpha and Delta utilized the partial equity method to account for their investment balances. Following are the individual financial statements for the companies for 2018 with consolidated totals