Consolidation working paper, noncontrolling interest, one year after acquisition, U.S. GAAP Kroft Foods, a U.S. company, acquired a 90 percent interest in Codberry Inc. on January 1, 2016, for $38,000,000. The fair value of the noncontrolling interest in Codberry is $3,000,000. Codberry's acquisition date assets and liabilities were reported at amounts approximating fair value, except its inventories (FIFO) were overvalued by $2,000,000, its property and equipment (20-year remaining life, straight-line) was overvalued by $10,000,000, and it had previously unreported identifiable intangibles (5-year remaining life, straight-line) with a fair value of $14,000,000. There is no goodwill impairment during 2016. Here are the December 31, 2016 crial balances of Kroft and Codberry: Dr (Cr) Kroft Codberry Current assets $9,950,000 $6,200,000 Property and equipment, net 110,000,000 65,000,000 Investment in Codberry 39,980,000 Liabilities (87,500,000) (46,200,000) Captial Stock (39,000,000 (2,000,000) Retained earning, January 1 (16,000,000) (20,500,000) Dividends - 500,000 Sales revenue (50,000,000) (20,000,000) Equity in income of Codberry (2,430,000) Cost of goods sold 30,000,000 15,000,000 Operating Expenses 5,000,000 2,000,000 Working paper eliminating entry (E) is: Select one: 2,000,000 Capital stock Investment in Codberry Noncontrolling interest in Cadberry 1,800,000 200,000 2,000,000 2 0,500,000 Capital stock Retained earnings, January 1 Investment in Codberry Noncontrolling interest in Codberry 20,250,000 2,250,000 Capital stock 2,000,000 Retained earnings, January 1 20,500,000 Investment in Codberry 22,500,000 Capital stock 1,800,000 Retained earnings, January 1 18,450,000 Investment in Codberry 20,250,000