(Estimated Time: 60 to 75 Minutes) On January 1, 2017, Father Company acquired an 80 percent interest in Sun Company for Page 189 $425,000. The acquisition-date fair value of the 20 percent noncontrolling interest's ownership shares was $102,500. Also as of that date, Sun reported total stockholders' equity of $400,000: $100,000 in common stock and $300,000 in retained earnings. In setting the acquisition price, Father appraised four accounts at values different from the balances reported within Suns financial records. Problem Buildings (8-year remaining life) Land Equipment (5-year remaining life) Royalty agreement (20-year remaining life) Undervalued by $20,000 Undervalued by $50,000 Undervalued by $12,500 Not recorded, valued at $30,000 As of December 31, 2021, the trial balances of these two companies are as follows: Father Company Sun Company Debits Current assets $ 605,000 $ 280,000 Investment in Sun Company 425,000 -0- Land 200,000 300.000 Land 200,000 1) 300,000 290,000 640.000 380,000 Buildings (net) Equipment (net) Expenses Dividends declared 160,000 190,000 550,000 20,000 90,000 $2,890,000 Total debits $1,240,000 Credits Liabilities $ 910,000 $ 300,000 Common stock 480.000 100,000 480,000 Retained earnings, 1/1/21 704,000 Revenues 780,000 360,000 Dividend income 16,000 -0- Total credits $2,890,000 $1,240,000 Included in these figures is a $20,000 payable that Sun owes to the parent company. No goodwill impairments have occurred since the Sun Company acquisition. Required a. Determine consolidated totals for Father Company and Sun Company for the year 2021. b. Prepare worksheet entries to consolidate the trial balances of Father Company and Sun Company for the year 2021. c. Assume instead that the acquisition-date fair value of the noncontrolling interest was $ 104,500. What balances in the December 31, 2021, consolidated statements would change