EI-l? Basic Consolidation Entries for Fllll'f nned Subsidiary Amber Corporation reported the liJllo wing summarized balance sheet data on December 31. EDP-TE: [In January 1, EDIT. Purple Company acquired lDIJI percent ofmber's stocl: for $5D. At the acquisition date. the pool: values and {air values oFAmber's assets and liabilities were equaL Amber reported net income of$5ELDIJD liar EDI? and paid dividends of$2tl,_ Required :1 Give the journal entries recorded by F'urple on its books during EDI-{3" ifit accounts Jr i1: investment in Amber using the enmity.r method. [1 Give the elimination