Determining ending consolidated balances in the second year following the acquisition -Cost method Assume a parent company acquired a subsidiary on January 1, 2015, for $1,936,000. The purchase price was $816,200 in excess of the subsidiary's $1,119,800 book value of Stockholders' Equity on the acquisition date. Of this excess purchase price, $352,000 was assigned to Property, plant and equipment with a remaining economic useful life of 10 years, and $464,200 was assigned to Goodwill. On the acquisition date, the subsidiary reported retained earnings equal to $847,550. The parent uses the cost method of pre-consolidation Equity investment bookkeeping. The financial statements of the parent and its subsidiary for the year ended December 31, 2016, are as follows: Subsidiary Subsidiary Balance sheet Parent Parent Income statement Sales Cost of goods sold Gross profit Equity income Operating expenses $8,318,750 $1,815,000 Assets (5,989,500) (1,089,000) Cash 2,329,250 726,000 Accounts receivable 37,400 Inventory (1,247,840) (471,900) Equity investment Property, plant & $1,118,810 $254,100 equipment $1,567,280 2,462,900 3,226,850 1,936,000 $468,600 421,300 540,650 Net income 17,189,920 1,000,450 Statement of retained earnings $26,382,950 $2,431,000 BOY retained earnings Net income Liabilities and stockholders' 5,801,070 937,750 equity 1,118,810 254,100 Accounts payable (262,570) (37,400) Accrued liabilities $6,657,310 $1,154,450 Long-term liabilities Common stock Dividends Ending retained earnings $1,217,920 $173,030 1,447,270 226,270 10,587,500 605,000 775,060 121,000 5,697,890 151,250 6,657,310 1,154,450 $26,382,950 $2,431,000 APIC Retained earnings At what amount will the following accounts appear on the consolidated financial statements? Do not use negative signs with any of your answers. a. Sales $ 10,133,750 b. Investment income $ 0 C. Operating expenses $ 1,754,940 d. Inventories $ 3,767,500 e. Equity investment $ 0 f. Property, plant & equipment, net $ 18,471,970 g. Goodwill $ 464,200 h. Common stock $ 775,060 i. Retained earnings $ 6,657,310 X