Brartson paid $566,700 cash for alf of the outstanding common stock ot Wolfpack, inc. on Jarnuary 1,2020 , On that diete, the subsidiary had a book vatue of 34 tt 000 fcommon stock of 3200000 and retained earnings of 52 th.0009, although warious walue vas comsklered goodwill In negotiating the acquisition price. Granson also promited to pay Wolfpeck's formet owners an additional 559,000 if Wolfpock's irycomwe exceeded 5130.000 totat over the first two years after the acquisition. At the bcquisition date, Bransor estirmated the probabiaty-adyusted presient walue of this contirgent consideration at 541,300 . On December 31 , 2020 , based on Wolfpack's earnings to dale, Branson increased the value of the contingency 10.47.200. During the subsequert two years. Woltpock. reported the fotiowing arsonints for income and dividends: In keeping wish the origiral accuisition agreemers, on December 3t, 202t, 8ranson paid the acleditional 559.000 perfoemance Fee se Wolfoack's previous owiners. Prepore evach of the fodoving: a. Bronson's entry to record the acquisfion of the shares of its Woifpock subsidiary. b. Branson's entries at the end of 2020 and 2021 to adjust its contingent perfoemance oblogation for changes in fair value and the Decermber 31, 2021. payment. c. Prepare consolidiation worksheet entries as of December 31. 2021. assumung that Branson has applied the equity method. d. Prepare consolidation worksheet entries as of Decomber 31, 2021. assuming that Branson has applied the initial value