Can you please solve for C and D. The transaction list is same for C and D.

Branson paid $591,900 cash for all of the outstanding common stock of Wolfpack, Inc., on January 1, 2020. On that date, the subsidiary had a book value of $406,000 (common stock of $200,000 and retained earnings of $206,000), although various unrecorded royalty agreements (10-year remaining life) were assessed at a $173,000 fair value. Any remaining excess fair value was considered goodwill. In negotiating the acquisition price, Branson also promised to pay Wolfpack's former owners an additional $43,000 if Wolfpack's income exceeded $140,000 total over the first two years after the acquisition. At the acquisition date, Branson estimated the probability-adjusted present value of this contingent consideration at $30,100. On December 31, 2020, based on Wolfpack's earnings to date, Branson increased the value of the contingency to $34,400. During the subsequent two years, Wolfpack reported the following amounts for income and dividends: 2020 2021 Net Income $ 74,300 84,300 Dividends Declared $ 20,000 30,000 In keeping with the original acquisition agreement, on December 31, 2021, Branson paid the additional $43,000 performance fee to Wolfpack's previous owners. Prepare each of the following: a. Branson's entry to record the acquisition of the shares of its Wolfpack subsidiary. b. Branson's entries at the end of 2020 and 2021 to adjust its contingent performance obligation for changes in fair value and the December 31, 2021, payment. c. Prepare consolidation worksheet entries as of December 31, 2021, assuming that Branson has applied the equity method. d. Prepare consolidation worksheet entries as of December 31, 2021, assuming that Branson has applied the initial value method. Required A Required B Required C Required D Prepare consolidation worksheet entries as of December 31, 2021, assuming that Branson has applied the equity method. no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Event Accounts Debit Credit 1 x Common stock - Wolfpack Retained earnings - Wolfpack Investment in Wolfpack 200,000 X 260,300 X 460,300 X 2 S Royalty agreements Goodwill 155,700 X 43,000 x Investment in Wolfpack 198,700 X w 3 No journal entry required X 4 I 67,000 Equity earnings of Wolfpack Investment in Wolfpack oo 67,000 5 D 30,000 > Investment in Wolfpack Dividends paid 3,000 X 6 E 17,300 Amortization expense Royalty agreements 17,300 > Required A Required B Required C Required D Prepare consolidation worksheet entries as of December 31, 2021, assuming that Branson has applied the initial value method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Event Accounts Debit Credit 1 37,000 Investment in Wolfpack Retained earnings - Branson 37,000 2 S Common stock - Wolfpack Retained earnings - Wolfpack Investment in Wolfpack 200,000 260,300 460,300 3 3 A No journal entry required 4 D Royalty agreements Goodwill Investment in Wolfpack 155,700 X 43,000 X X 198,700 X 5 1 Dividend income x 30,000 X Dividends paid 30,000 X 6 E 17,300 Amortization expense Royalty agreements 17,300 Required A Required B Required C Required D Prepare consolidation worksheet entries as of December 31, 2021, assuming t required for a transaction/event, select "No journal entry required" in the first view transaction list X. 1 Prepare entry *C to convert parent's beginning retained earnings to full accrual basis. 2 Prepare entry S to record the elimination of common stock and retained earnings. ull 3 Prepare entry A to record the acquisition-date excess fair values over book values, unamortized balances as of beginning of year. 4 Prepare entry I to record the accrual of equity earnings. C 5 Prepare entry D to record the dividends declared. 6 Prepare entry E to record excess fair-value amortization expenses. Note : journal entry has been entered =