Good Morning, Do you have available solutions for the following questions below?

The following Statement of Financial Position were prepared for Popoy and Sasha Company on January 1, 2015 just before they entered into Business Combination:

Popoy Company Sasha Company

Book Value Fair Value Book Value Fair Value

Cash and Receivables 900,000 900,000 160,000 160,000

Inventory 600,000 800,000 100,000 130,000

Building (5 years life) 1,125,000 1,400,000 300,000 400,000

Equipment (5 years life) 300,000 400,000 250,000 200,000

Accounts Payable 450,000 400,000 50,000 50,000

Bonds Payable 750,000 750,000 40,000 40,000

Common stocks

P 20 par value 750,000

P 10 par value 200,000

Additional Paid-in- Capital 150,000 50,000

Retained Earnings 825,000 470,000

On the same day Popoy Company purchased 70 % common shares outstanding of Sasha for P 500,000

On December 31, 2015 Popoy Company and Sasha Company reported their separate Net income as follows:

Popoy Company Sasha Company

P 297,500 P 200,000

Additional Information

-The fair value of non-controlling interest (30%) is assessed at P 220,000

-Popoy declared and paid dividends amounting to P 80,000 while Sasha declared and paid dividends of P 50,000

1. How much is the amount of goodwill or income from acquisition to be presented in the 2015 consolidated financial statement?

2. How much is the NCI in the net income of subsidiary in 2015?

3. How much is the consolidated net income in 2015?

4. How much is the consolidated net income attributable to parent?

5. How much of the consolidated net income is attributable to controlling interest?

6. How much is the amount of NCI in net assets of the subsidiary as of December 31, 2015?

7. How much is the consolidated retained earnings in 2015?

8. How much is the consolidated shareholders equity in 2015?

9. How much is the consolidated Liabilities in 2015?

10. How much is the consolidated assets in 2015?