Help on the attached I have answers however I just want to compare

Practice Problem On January 1, 2014, Plant Company purchased 80% of the common stock of Sun Company for $387,5 2014 $175,000 $22,500 Income Dividends 2015 $180,000 $27,500 2016 $162,500 $32,500 On December 31, 2013, just prior to the acquisition, the balance sheets of Plant Company and Sun Com Plant Cash Sun (Book) Sun (Market) 825,000 257,500 257,500 200,000 300,000 450,000 $1,775,000 95,000 62,500 50,000 $465,000 95,000 62,500 75,000 $490,000 Liabilities Common stock 250,000 100,000 150,000 115,000 Additional paid in capital 125,000 50,000 1,400,000 $1,775,000 165,000 $465,000 Accounts receivable (net) Inventory Land Retained earnings Required: 1. Assume that Plant accounts for the acquisition using the Equity method. Use the informatio incomplete worksheet information presented on the following pages to consolidate the financi In working the consolidations, please provide the following information: 1. The Equity method entries that Plant would make each year 2. The Allocation Schedule to allocate excess fair values 3. The consolidation entries 4. The Completed worksheets showing the consolidated totals 2. Assume that Plant accounts for the acquisition using the Initial Value method (i.e., the Cost incomplete worksheet information to consolidate the financial statements for Plant and Sun for Company for $387,500. Sun reported the following: Company and Sun Company were as follows: hod. Use the information above as well as the consolidate the financial statements for Plant and Sun for 2014, 2015 & 2016. uld make each year s fair values consolidated totals e method (i.e., the Cost method). Use the information above as well as the appropriate nts for Plant and Sun for 2014, 2015 and 2016. Please provide all the same information as #1 above. Pre-consolidation Worksheet 12/31/2014 INCOME STATEMENT Net sales Cost of sales Other expenses Equity Income Consolidated NI To NCI To Controlling Interest Trial Balances Plant Sun 400,000 205,000 107,500 140,000 227,500 325,000 125,000 25,000 175,000 1,400,000 227,500 25,000 1,602,500 165,000 175,000 22,500 317,500 716,500 212,500 400,000 450,000 509,500 367,500 115,000 135,000 50,000 - Total Assets 2,288,500 667,500 Liabilities Common stock Other paid in capital Retained Earnings NCI-Equity 311,000 250,000 125,000 1,602,500 150,000 150,000 50,000 317,500 Total L +E 2,288,500 STATEMENT OF RETAINED EARNINGS Retained earnings, 1/1/2014 NI Divs End RE BALANCE SHEET Cash Accounts receivable net Inventory Land Goodwill Equity Investment Consolidated Entries DR 0 0 667,500 Consolidated Entries CR Consolidated Balance 725,000 330,000 132,500 140,000 262,500 262,500 1,565,000 262,500 47,500 1,780,000 1,084,000 327,500 535,000 500,000 0 509,500 2,956,000 0 0 461,000 400,000 175,000 1,920,000 0 2,956,000 Pre-consolidation worksheet 12/31/2015 INCOME STATEMENT Net sales Cost of sales Other expenses Equity Income Consolidated NI To NCI To Controlling Interest STATEMENT OF RETAINED EARNINGS Retained earnings, 1/1/15 NI Divs End RE BALANCE SHEET Cash Accounts receivable net Inventory Land Goodwill Equity Investment Trial Balances Plant Sun 392,500 181,000 109,000 144,000 246,500 342,000 143,500 18,500 180,000 1,602,500 246,500 35,000 1,814,000 317,500 180,000 27,500 470,000 1,000,000 221,000 341,500 450,000 484,000 155,000 104,000 50,000 631,500 Total Assets 2,644,000 793,000 Liabilities Common stock Other paid in capital Retained Earnings NCI-Equity 455,000 250,000 125,000 1,814,000 123,000 150,000 50,000 470,000 Total L +E 2,644,000 793,000 Pre-consolidation worksheet 12/31/2016 Trial Balances Plant INCOME STATEMENT Net sales Cost of sales Other expenses Equity Income Consolidated NI To NCI To Controlling Interest STATEMENT OF RETAINED EARNINGS Retained earnings, January 1 NI Divs End RE BALANCE SHEET Cash Accounts receivable net Inventory Land Goodwill Equity Investment Sun 392,500 181,000 109,000 130,000 232,500 328,000 146,000 19,500 162,500 1,814,000 232,500 35,000 2,011,500 470,000 162,500 32,500 600,000 973,000 210,500 305,000 600,000 492,500 200,000 125,000 50,000 735,500 Total Assets 2,824,000 867,500 Liabilities Common stock Other paid in capital Retained Earnings NCI-Equity 437,500 250,000 125,000 2,011,500 67,500 150,000 50,000 600,000 Total L +E 2,824,000 867,500 12/31/14 Trial Balances Plant Sun 400,000 205,000 107,500 18,000 105,500 325,000 125,000 25,000 STATEMENT OF RETAINED EARNINGS Retained earnings, January 1 NI Divs 1,400,000 105,500 25,000 165,000 175,000 22,500 End RE 1,480,500 317,500 716,500 212,500 400,000 450,000 367,500 115,000 135,000 50,000 INCOME STATEMENT Net sales Cost of sales Other expenses Dividend Income Consolidated NI To NCI To Controlling Interest BALANCE SHEET Cash Accounts receivable net Inventory Land Goodwill Investment in Sun 175,000 387,500 Total Assets 2,166,500 667,500 Liabilities Common stock Other paid in capital Retained Earnings NCI Equity 311,000 250,000 125,000 1,480,500 150,000 150,000 50,000 317,500 Total L +E 2,166,500 667,500 12/31/15 Trial Balances Plant Sun 392,500 181,000 109,000 22,000 124,500 342,000 143,500 18,500 STATEMENT OF RETAINED EARNINGS Retained earnings, January 1 NI Divs 1,480,500 124,500 35,000 317,500 180,000 27,500 End RE 1,570,000 470,000 1,000,000 221,000 341,500 450,000 484,000 155,000 104,000 50,000 INCOME STATEMENT Net sales Cost of sales Other expenses Div Income Consolidated NI To NCI To Controlling Interest BALANCE SHEET Cash Accounts receivable net Inventory Land Goodwill Investment in Sun 180,000 387,500 Total Assets 2,400,000 793,000 Liabilities Common stock Other paid in capital Retained Earnings NCI Equity 455,000 250,000 125,000 1,570,000 123,000 150,000 50,000 470,000 Total L +E 2,400,000 793,000 12/31/16 Trial Balances INCOME STATEMENT Net sales Cost of sales Other expenses Dividend Income Consolidated NI To NCI To Controlling Interest Plant 392,500 181,000 109,000 26,000 128,500 Sun 328,000 146,000 19,500 STATEMENT OF RETAINED EARNINGS Retained earnings, January 1 NI Divs 1,570,000 128,500 35,000 470,000 162,500 32,500 End RE 1,663,500 600,000 973,000 210,500 305,000 600,000 492,500 200,000 125,000 50,000 BALANCE SHEET Cash Accounts receivable net Inventory Land Goodwill Investment in Sun 162,500 387,500 Total Assets 2,476,000 867,500 Liabilities Common stock Other paid in capital Retained Earnings NCI Equity 437,500 250,000 125,000 1,663,500 67,500 150,000 50,000 600,000 Total L +E 2,476,000 867,500 FV Allocations