Facts: On December $31,2023,$ Parent Co purchased $95\%$ of Sub Co for $$120,000$ cash. The

Balance Sheet of each corporation just prior to the acquisition is presented below.

Additionally, book value and fair value for all of Sub's assets and liabilities are equal, with the

exception of property, plant and equipment, whose fair value is $$47,000.$

Balance sheets before acquisition:

What is the amount of the non$-$controlling interest share in SubCo at the date of

acquisition?

What is the consolidated depreciation expense to be reflected in the consolidated Income

Statement for $2024$ assuming no additional purchases and a $10-$year depreciation life for

property, plant and equipment?

Prepare the required workpaper elimination entries for consolidation.