Following are the individual financial statements for Gibson and Davis for the year ending December 31, 2021: $ Davis (372, 080) 172,eee 83,000 Sales Cost of goods sold Operating expenses Dividend income Net income Retained earnings, 1/1/21 Net income Dividends declared Retained earnings, 12/31/21 Cash and receivables Inventory Investment in Davis Buildings (net) Equipment (net) Total assets Liabilities Common stock Retained earnings, 12/31/21 Total liabilities and stockholders equity Gibson $ (827,808) 392, eee 224, eee (12,Bea) $ (223,800) $ (71e, eee) (223, eee) 70, eee $ (863,808) $ 162,250 596, eee 558,750 573,808 409,000 $ 2, 299, Bea $ (886, 800) (630, cea) (863,800) $ (2,299, eee) $ (117,880) $ (488,880) (117,888) 20,000 $ (505,880) $ 87,880 227,000 @ 664,880 434,000 $ 1,412,800 $ (567,980) (340, 880) (585, 880) $ (1,412, eee) Gibson acquired 60 percent of Davis on April 1, 2021, for $558,750. On that date, equipment owned by Davis (with a five-year remaining life) was overvalued by $63.000. Also on that date, the fair value of the 40 percent noncontrolling interest was $372.500. Davis earned income evenly during the year but declared the $20.000 dividend on November 1, 2021. .. Prepare a consolidated income statement for the year ending December 31, 2021. b. Determine the consolidated balance for each of the following accounts as of December 31, 2021: Goodwill Equipment (net) Common stock Buildings (net) Dividends declared Complete this question by entering your answers in the tabs below. Required A Required B Prepare a consolidated income statement for the year ending December 31, 2021. (Enter all amounts as positive values.) Consolidated Income Statement For the Year Ending December 31, 2021 0 0 $ 0 Required A Required B > Required A Required B Determine the consolidated balance for each of the following accounts as of December 31, 2021 Goodwill Equipment (net) Common stock Buildings (net) Dividends declared