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Determining ending consolidated balances in the third year following the acquisitionCost method Assume a parent company acquired a subsidiary on January 1, 2017, for $1,100,000.

Determining ending consolidated balances in the third year following the acquisitionCost method

Assume a parent company acquired a subsidiary on January 1, 2017, for $1,100,000. The purchase price was $750,000 in excess of the subsidiarys $350,000 book value of Stockholders Equity on the acquisition date. Of this excess purchase price, $500,000 was assigned to Property, plant and equipment with a remaining economic useful life of 10 years, and $250,000 was assigned to Goodwill. On the acquisition date, the subsidiary reported retained earnings equal to $80,000. The parent uses Investment cost method of pre-consolidation Equity investment bookkeeping. The financial statements of the parent and its subsidiary for the year ended December 31, 2019, are as follows:

Parent Subsidiary Parent Subsidiary
Income statement: Balance sheet:
Sales $2,400,000 $950,000 Assets
Cost of goods sold (1,300,000) (560,000) Cash $1,100,000 $150,000
Gross profit 1,100,000 390,000 Accounts receivable 1,500,000 240,000
Investment income 50,000 Inventory 2,400,000 530,000
Operating expenses (600,000) (260,000) Equity investment 1,000,000
Net income $550,000 $130,000 Property, plant and equipment (PPE), net 4,000,000 1,000,000
$10,000,000 $1,920,000
Statement of retained earnings:
BOY retained earnings $1,500,000 $ 500,000 Liabilities and stockholders equity
Net income 550,000 130,000 Accounts payable $1,000,000 $170,000
Dividends (250,000) (50,000) Accrued liabilities 800,000 200,000
Ending retained earnings $1,800,000 $ 580,000 Long-term liabilities 3,000,000 700,000
Common stock 500,000 120,000
APIC 2,900,000 150,000
Retained earnings 1,800,000 580,000
$10,000,000 $1,920,000

At what amount will the following accounts appear in the consolidated financial statements for the year ended December 31, 2019?

Please help figure out the AMOUNT below. Thank you.

Account

Amount

a. Sales

$

b. Investment Income

$

c. Operating expenses

$

d. Inventories

$

e. Equity investment

$

f. PPE, net

$

g. Goodwill

$

h. Common Stock

$

i. Retained Earnings

$

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