Following are the individual financial statements for Gibson and Davis for the year ending December 31, 2021: Gibson acquired 60 percent of Davis on April 1, 2021, for $579,150. On that date, equipment owned by Davis (with a five-year remaining life) was overvalued by $78,000. Also on that date, the fair value of the 40 percent noncontrolling interest was $386,100. Davis earned income svenly during the year but declared the $40,000 dividend on November 1 , 2021. a. 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