Current Attempt in Progress The following balances were taken from the records of Pharoah Company: Sheridan Company purchased 75% of Pharbah Company's common stock on Jaruary 1.202,1 for 5901200 , The defference between implied value and book value is attributable to assets with a remaining useful life on January 2,2023 of ten years. (a) Compute the difference between cost/(implied) and book value applying: 1. Parent company theory. 2. Economic unit theory. Compute the difference between cost/(implied) and book value applying: 1. Parent company theory. 2. Economic unit theory. Assuming the economic unit theory: 1. Compute noncontrolling interest in consolidated income for 2023 . 2. Compute noncontrolling interest in net assets on December 31,2023 . 1. Noncontrolling inter est in consolidated income 2. Noncontrollinginterest in net assets