Gibson acquired 60 percent of Davis on April 1, 2021, for $556,950. On that date, equipment owned by Davis (with a five-year remaining life) was overvalued by $42,000. Also on that date, the fair value of the 40 percent noncontrolling interest was $371,300. Davis earned income evenly 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: \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ Consolidated Income Statement } \\ \hline \multicolumn{2}{|c|}{ For the Year Ending December 31, 2021 } \\ \hline Revenues & & \\ \hline Cost of goods sold & & \\ \hline Operating expenses & & \\ \hline Consolidated net income & & \\ \hline Noncontrolling interest in CNI & & $ \\ \hline Controlling interest in CNI & 0 \\ \hline \end{tabular}