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Determining ending consolidated balances in the third year following the acquisition-Equity method Assume that your company acquired a subsidiary on January 1, 2017. The purchase

Determining ending consolidated balances in the third year following the acquisition-Equity method Assume that your company acquired a subsidiary on January 1, 2017. The purchase price was $1,100,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following [A] assets: Original Useful Life [A] Original Asset Amount Patent $800,000 10 years Goodwill 300,000 Indefinite $1,100,000 The [A] assets with a useful life have been amortized as part of the parent's equity method accounting. The financial statements of the parent and its subsidiary for the year ended December 31, 2019, are as follows: Income statement: Sales Cost of goods sold Gross profit Equity income Operating expenses Net income Statement of retained earnings: BOY retained earnings Net income Parent Subsidiary Dividends Ending retained earnings $2,740,000 850,000 (200,000) $3,390,000 Balance sheet: $3,000,000 $1,200,000 Assets (2,000,000) (560,000) Cash 1,000,000 $700,000 910,000 300,000 1,200,000 640,000 Accounts receivable Inventory (450,000) (260,000) Equity investment $850,000 $380,000 Property, plant and equipment (PPE), net 3,000,000 800,000 1,980,000 $7,790,000 $1,580,000 $ 400,000 Liabilities and stockholders' equity 380,000 Accounts payable (40,000) Accrued liabilities $740,000 Long-term liabilities Common stock APIC Retained earnings Parent R Subsidiary $280,000 200,000 300,000 EIRO $400,000 $90,000 500,000 120,000 1,000,000 250,000 500,000 300,000 80,000 2,000,000 3,390,000 740,000 $7,790,000 $1,580,000 At what amount will the following accounts appear in the consolidated financial statements for the year ended December 31, 2019?
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Determining ending consolidated balances in the third year following the acquisition-fquity method was assigned to the following (A) assets Note: Do not use negative signs with any answers

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