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Complete this question by entering your answers in the tabs below. Show how McIlroy determined the $ 4 2 5 , 3 4 8 Investment

Complete this question by entering your answers in the tabs below.
Show how McIlroy determined the $425,348 Investment in Stinson account balance. Assume that McIlroy defers 100 percent
of downstream intra-entity profits against its share of Stinson's income. (Amounts to be deducted should be indicated with a
minus sign.) On January 1,2020, Mcllroy, Inc., acquired a 60 percent interest in the common stock of Stinson, Inc., for $383,400. Stinson's book value on that date consisted of common stock of $100,000 and retained earnings of $226,700. Also, the acquisition-date fair value of the 40 percent noncontrolling interest was $255,600. The subsidiary held patents (with a 10-year remaining life) that were undervalued within the company's accounting records by $88,000 and an unrecorded customer list (15-year remaining life) assessed at a $63,900 fair value. Any remaining excess acquisition-date fair value was assigned to goodwill. Since acquisition, Mcllroy has applied the equity method to its Investment in Stinson account and no goodwill impairment has occurred. At year-end, there are no intra-entity payables or receivables.
Intra-entity inventory sales between the two companies have been made as follows:
\table[[Year,Cost to McIlroy,Transfer Price,Ending Balance],[2020,$138,300,$172,875,(at transfer price)],[2021,112,800,150,400,$57,625
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