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 $2,086,000. The purchase price was $966,200 in excess of the subsidiary's $1,119,800 book value of Stockholders' Equity on the acquisition date. Of this excess purchase price, $502,000 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: Parent Subsidiary Parent Subsidiary Balance sheet $8,318,750 $1,890.000 Assets (5.989,500) (1,089.000) Cash 2,329,250 801.000 Accounts receivable 37,400 - Inventory (1.247,840) (546,900) Equity investment $1,118,810 $254.100 Property, plant & equipment Income statement Sales Cost of goods sold Gross profit Equity income Operating expenses Net income Statement of retained earnings BOY retained earnings Net income Dividends Ending retained earnings 540,650 $1,567,280 $468,600 2,462.900 421,300 3,376,850 2,086,000 17.189.920 1,000,450 $26,682,950 $2,431,000 5.801,070 937.750 Liabilities and stockholders 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 APIC Retained earnings $1.217.920 $173.030 1,447,270 226,270 10,587,500 605,000 925,060 121.000 5,847,890 151,250 6,657,310 1,154,450 $26,682.950 $2,431,000 AENG 1:27 AI Ending retained earnings $6,657,310 $1,154,450 Long-term liabilities Common stock APIC Retained earnings 10,587,500 605,000 925,060 121,000 5,847.890 151,250 6,657,310 1,154,450 $26,682.950 $2,431,000 At what amount will the following accounts appear on the consolidated financial statements? Do not use negative signs with any of you answers. a. Sales $ 0 b. Investment income $ c. Operating expenses $ d. Inventories $ e. Equity investment $ f. Property, plant & equipment net $ g. Goodwill h. Common stock $ 1. Retained earnings $ O O O O O O 0 0 Check