Check my work\ Greenburg reports net income in 2022 of

$113,500

and

$103,000

in 2023 . The subsidiary declared dividends of

$20,000

in each of these two years.\ Account balances for the year ending December 31, 2024, follow. Credit balances are indicated by parentheses.\ Items\ Revenues\ Foxx\ Greenburg\ Cost of goods sold\ Depreciation expense\ Investment income\ Net income\ Retained earnings, 1/1/24\ Net income\ Dividends declared\ Retained earnings, 12/31/24\ Current assets\ Investment in subsidiary\ Equipment (net)\ Buildings (net)\ Land\ Total assets\ Liabilities\ Common stock\ Retained earnings\ Total liabilities and equity\ \\\\table[[Foxx,Greenburg],[

$(1,160,000)

,

$(680,000)

Check my work Greenburg reports net income in 2022 of $113,500 and $103,000 in 2023 . The subsidiary declared dividends of $20,000 in each of these two years. Account balances for the year ending December 31, 2024, follow. Credit balances are indicated by parentheses. Required: a. Determine the December 31,2024 , consolidated balance for each of the following accounts: Depreciation Expense Dividends Declared Revenues Equipment Buildings Goodwill Common Stock b. How does the parent's choice of an accounting method for its investment affect the balances computed in requirement part (a)? c. Which method of accounting for this subsidiary is the parent actually using for internal reporting purposes? d. What would be investment income if each of the following methods had been in use? e. What would be Foxx's balance for retained earnings as of January 1,2024 , if each of the following methods had been in use? - Initial value method. - Partial equity method. - Equity method. Complete this question by entering your answers in the tabs below