Haynes, Inc., obtained 100 percent of Turner Company's common stock on January 1, 2017, by issuing 8,500 shares of $10 par value common stock. Haynes's shares had a $15 per share fair value. On that date, Turner reported a net book value of $88,750. However, its equipment (with a five-year remaining life) was undervalued by $7,250 in the company's accounting records. Also, Turner had developed a customer list with an assessed value of $31,500, although no value had been recorded on Turner's books. The customer list had an estimated remaining useful life of 10 years The following balances come from the individual accounting records of these two companies as of December 31, 2017 Haynes $ (692,000) (275,000) Turner Revenues Expenses Investment income Dividends declared 449,000 Not given 120,000 130,000 70,000 The following balances come from the individual accounting records of these two companies as of December 31, 2018 Turner 163,100 50,000 Haynes $ (886,000) (348,750) Revenues Expenses Investment income Dividends declared Equipment 471,200 Not given 140,000 532,000 373,000 a. What balance does Haynes's Investment in Turner account show on December 31, 2018, when the equity method is applied? b. What is the consolidated net income for the year ending December 31, 2018? c-1. What is the consolidated equipment balance as of December 31, 2018? c-2. Would this answer be affected by the investment method applied by the parent? d. Prepare entry "C for the beginning of the Retained Earnings account on a December 31, 2018 by using initial value, partial equity and equity method