Errant acquired suffIcient shares of Grub on January.r 1. 2019 to obtain control. On the date of acquisition. acquisition differential was allocated as follows: $24,000 to consolidated goodwill $16,000 to inventory.r - Fair value was greater than book value. On the date of acquisition, Errant's retained earnings was $F0,000. The net incomes for Errant and Grub for the year ended December 3 1, 2019 were $160,000 and $90,000 respectively. There were no other inter-companyr transactions during the veer. Moreover. an impairment test conducted on December 31, 2019 revealed that the Goodwill should actually have a value of $20,000. Both companies use a FIFO system, and most of Grub's inventory on the date of acquisition was sold during the year. Errant did not declare any.r dividends during the year. Assuming that Errant acquired 80% of Grub on January 1, 2019, calculate the following. Also assume that Grub paid $11,000 in dividends to Errant during the year: The adjusted consolidated net income for December 31, 2019. As part of your calculation, show both the share of Errant and Grub, and the share attributable to the non-controlling interest. (18 marks) The balance of Consolidated Retained Earnings on December 31, 2019. (7 marks)