(Esrimared Tone: 40 65 Minutes) On January 1, 2019. Top Company acquired all of Bottom Company's outstanding common stock for $842.000 in cash. As of that date, one of Bottom's buildings with a 12-year remaining life was undervalued on its financial records by $72,000. Equipment with a 10-year remaining life was undervalued, but only by S10,000. The book values of all of Bottom's other assets and liabilities were equal to their fair values at that time except for an unrecorded licensing agreement with an assessed value of $40.000 and a 20-year remaining useful life. Botom's book value at the acquisition date was $720,000. During 2019. Bottom reported net income of $100.000 and declared $30,000 in dividends. Earnings were $120.000 in 2020 with $20.000 in dividends declared by the subsidiary. As of December 31, 2021, the companies reported the following selected balances, which include all revenues and expenses for the year. Top Company December 31, 2021 Bottom Company December 31, 2021 Deblt Credit Debit Credit $1.540.000 50.000 $460.000 90,000 $ 900,000 $400.000 Buildings Cash and receivables Common stock Dividends declared Equipment Cost of goods sold Depreciation expense Inventory Land Llabilities Retained earnings. 11/21 Revenues 70.000 280.000 500,000 100,000 280.000 330,000 10.000 200,000 120.000 60.000 260.000 250.000 480.000 1.360.000 900.000 260.000 490,000 300.000 Required a I Top applies the equity method. what is its investment account balance as of December 31, 2021? b I Top applies the initial value method, what is its investment account balance as of December 31, 2021? c. Regardless of the accounting method in use by Top, what are the consolidated totals as of December 31, 2021. for each of the following accounts? Revenues Net Income Buildings Equipment Land Depreciation Expense Amortization Expense Investment in Bottom Dividends Declared Cost of Goods Sold d. Prepare the worksheet entries required on December 31, 2021. to consolidate the financial records of these two companies. Assume that Top applied the equity method to its investment account. e. How would the worksheet entries in requirement (el be altered if Top has used the initial value method