c. Following are selected nancial statement accounts for the parent: Income statement Balance sheet: Sales 513,815,000 Assets Cost of goods sold {9,670,500} Cash $1,526,569 Gross profit 4,144,500 Accouns receivable 1,758,320 Equity income 552,650 Inventory 2,530,110 Operating expenses {2,624,350} Equity investment 4,139,185 Net income $2,1?2,330 Property, plant, and equipmentijPPE}, net 14,273,655 $24,337,845 Statement of retained earnings: BOY retained earnings $11,898,000 Liabilities and stockholders' equity Net Income 2,112,330 Current liabilities $1,106,532 Dividends (475,920) Longrterm liabilities 750,000 Ending retained earnings $13,594,410 Common stock 1,553,535 APIC 7,291,571 Statement of accum. comp. income: Retained earnings 13,594,410 BOY cumulative translation adjustment ill 02,348) Cumulative translation adjustment 76,148 Current-year translation gain (loss) 179,596 524,337,845 EDY cumulative translation adjustment \"6,743 Assume the following information: The purchase price for the subsidiary included an AAP asset relating to Land that the parent estimated was worth GEF200,UDD more than its book value on the subsidiary's balance sheet. Confirm the balance of the Equity Investment account of 34,1 39,1 88 on the parent's balance sheet. BOY Common stock 1568535 I 0 vi BDYAPIC 7291571 I 0 if BOY Retained earnings 11893000 I 0 vi BDYMP D I 0 vi BOY Cumulative translation adiustment 7102848 v 0 if Equity income I I Dividends Currenttranslation adjustment 0 I 0 vi MPTranslation adjustmentAOCI) D I 0 if