help with wrong answers (picture 3) and it will be nice if you can explain. I always forget how to do those parts.

Consolidation worksheet for gain on constructive retirement of subsidiary's debt with no AAP-Cost method Assume that a Parent company acquires a 75% interest in its subsidiary on January 1, 2015. On the date of acquisition, the fair value of the 75 percent controling interest was $600.000 and the fair value of the 25 percent noncontrolling interest was $200,000. On january 1, 2015, the book value of net assets equaled $800,000 and the fair value of the identifiable net assets equaled the book value of identifiable net assets tite, there was no AAP or Goodwilly, on January 1, 2015, the retained earnings of the subsidiary was 5150,000 On December 31, 2016, the subsidiary company issued $750,000 (face; o percent, five-year bonds to an unaffiliated company for $765,000. The bonds pay interest annually on December 31, and the bond premium is amortized using the straight line method. This results in annual bond-payable premium amortization equal to 53.000 per year. The following schedule provides the bond amortization schedule from the initial issuance date Year Cash Payment Amortisation of Premium Interest Expense Carrying Amount Dec 31, 2016 576.00 Dec 31, 2017 45.000 53,000 542.000 762.000 Do 31.2018 3.000 259.000 Der 11.2019 42,000 754.00 Dec 31, 2020 2.000 2.000 753.000 Dec 31, 2021 15.000 3,000 22.000 750.000 45.000 45.000 15.000 1.000 On December 31, 2018, the Parent paid $735,000 to purchase all of the outstanding subsidiary company bonds. The bond discount i amortized using the straight line method, which results in annual bond investment discount amortization equat to $5,000 per year. The following schedule provides the bond amortization schedule for the Parents bond investment Cash Payment Amortization of Discount Interest Income Carrying Amount Dal 2018 5716.000 Dec 31, 2019 De 1.200 5.000 000 5.000 1.000 1.000 45.000 150.000 0.000 50.000 MOO 45.000 70.000 Der 1.2001 The parent uses the cost method of pre-consolidation investment bookkeeping, The Parent and the subsidiary report the following financial statements for the year ended December 31, 2018 Parent Subsidiary Parent Subsidiary Income statement Balance sheet The parent uses the cost method of pre-consolidation investment bookkeeping The Parent and the Subsidiary report the following financial statements for the year ended December 31, 2019: Parent Subsidiary Parent Subsidiary Income statement Balance sheet Sales 56.500,000 $900.000 Cost of oos old 14.500.000 150.000 $700.000 300.000 Gross prot 2.000.000 350.000 ACCOReceivable 800.000 500.000 Operating and other expenses 1.500.000 200.000 vetores 1.000.000 300.000 Bond interest income $1,000 .PPE 3.000.000 1.250.000 Bondinestiense 2.000 tauty Investment 600.000 Total expen 11.450.000142.000 nvestment in bordet 70.000 income from wbudiary 30.000 56.840.000 150.000 Torino 550.000 100.000 units and stockhodet Statement of retained earnings Acrunts payable 0.000 350.000 Doned earnings 50.000 12210000 Other contes 900.000 100.000 income | 101 1000 or a loi chi 756,000 Dividende 200.000 140.0001 Other 1 400.000 450.000 tindamine 51.100,000 150000 Como 500.000 AC 2,000,000 0.000 Betained 1.140.000 6.10.000 250.000 150.000 Provide the consolidation entries and prepare a consolidation worksheet for the year ended December 31, 2019 Round answers to the nearest whole number. Consolidation Journal Buscription Debat Credit JADE in Subsidiary c Use negative signs with your answers in the consolidated column for: Cost of goods sold, all expenses inc. Total expenses), Income attributable to NCI and Dividends Consolidation Worksheet Parent Subsidiary Deble Credit Consolidated Income Statement Sales $6.500.000 $800,000 $ 7,300.000 Cost of goods sold (4,500,0001 (450.000 (4.950,000) Grous profit 2.000.000 350.000 2,350,000 Operating and other expenses (1.500,000) 0200.000 (1.700,000) Bond interest income 50000 fibond) 50,000 0 Bond interest expense 42.000) 42,000 fibond 0 Total expenses (1,450,000) 249.000 (1.700,000) Income from Subsidiary 30.000 ICI 30.000 0 Consolidated Net Income 580.000 101.000 68,000 Income attributable to NCI 1 27.000 127,0001 Income attributable to control int3580.000 100.000 715.000 Retained Earnings Statement Der Rot. Earnings 5760.000 $276.000 10 276,000 116.500 ADLI 878.500 Income attributable to controllo 580.000 101L000 500.000 Dividers Declared (200,0001 40.000 40,000 19 (200.000) Ending Retained taming 51.140.000 5344.000 $ 1.250 500 Balance Sheet 5700.000 $300.000 1,000,000 Accounts receivable 800.000 500.000 1.300,000 Inventories 1.000.000 800.000 1.800.000 Property Pant Equipment net 3.000.000 1.250.000 4.250.000 investment in Subsidiary 600.000 (ADII 118.500 694,500 24,000 bond Investment in Bond (net) 740.000 740,000 band Cash A Consolidation worksheet for gain on constructive retirement of subsidiary's debt with no AAP-Cost method Assume that a Parent company acquires a 75% interest in its subsidiary on January 1, 2015. On the date of acquisition, the fair value of the 75 percent controling interest was $600.000 and the fair value of the 25 percent noncontrolling interest was $200,000. On january 1, 2015, the book value of net assets equaled $800,000 and the fair value of the identifiable net assets equaled the book value of identifiable net assets tite, there was no AAP or Goodwilly, on January 1, 2015, the retained earnings of the subsidiary was 5150,000 On December 31, 2016, the subsidiary company issued $750,000 (face; o percent, five-year bonds to an unaffiliated company for $765,000. The bonds pay interest annually on December 31, and the bond premium is amortized using the straight line method. This results in annual bond-payable premium amortization equal to 53.000 per year. The following schedule provides the bond amortization schedule from the initial issuance date Year Cash Payment Amortisation of Premium Interest Expense Carrying Amount Dec 31, 2016 576.00 Dec 31, 2017 45.000 53,000 542.000 762.000 Do 31.2018 3.000 259.000 Der 11.2019 42,000 754.00 Dec 31, 2020 2.000 2.000 753.000 Dec 31, 2021 15.000 3,000 22.000 750.000 45.000 45.000 15.000 1.000 On December 31, 2018, the Parent paid $735,000 to purchase all of the outstanding subsidiary company bonds. The bond discount i amortized using the straight line method, which results in annual bond investment discount amortization equat to $5,000 per year. The following schedule provides the bond amortization schedule for the Parents bond investment Cash Payment Amortization of Discount Interest Income Carrying Amount Dal 2018 5716.000 Dec 31, 2019 De 1.200 5.000 000 5.000 1.000 1.000 45.000 150.000 0.000 50.000 MOO 45.000 70.000 Der 1.2001 The parent uses the cost method of pre-consolidation investment bookkeeping, The Parent and the subsidiary report the following financial statements for the year ended December 31, 2018 Parent Subsidiary Parent Subsidiary Income statement Balance sheet The parent uses the cost method of pre-consolidation investment bookkeeping The Parent and the Subsidiary report the following financial statements for the year ended December 31, 2019: Parent Subsidiary Parent Subsidiary Income statement Balance sheet Sales 56.500,000 $900.000 Cost of oos old 14.500.000 150.000 $700.000 300.000 Gross prot 2.000.000 350.000 ACCOReceivable 800.000 500.000 Operating and other expenses 1.500.000 200.000 vetores 1.000.000 300.000 Bond interest income $1,000 .PPE 3.000.000 1.250.000 Bondinestiense 2.000 tauty Investment 600.000 Total expen 11.450.000142.000 nvestment in bordet 70.000 income from wbudiary 30.000 56.840.000 150.000 Torino 550.000 100.000 units and stockhodet Statement of retained earnings Acrunts payable 0.000 350.000 Doned earnings 50.000 12210000 Other contes 900.000 100.000 income | 101 1000 or a loi chi 756,000 Dividende 200.000 140.0001 Other 1 400.000 450.000 tindamine 51.100,000 150000 Como 500.000 AC 2,000,000 0.000 Betained 1.140.000 6.10.000 250.000 150.000 Provide the consolidation entries and prepare a consolidation worksheet for the year ended December 31, 2019 Round answers to the nearest whole number. Consolidation Journal Buscription Debat Credit JADE in Subsidiary c Use negative signs with your answers in the consolidated column for: Cost of goods sold, all expenses inc. Total expenses), Income attributable to NCI and Dividends Consolidation Worksheet Parent Subsidiary Deble Credit Consolidated Income Statement Sales $6.500.000 $800,000 $ 7,300.000 Cost of goods sold (4,500,0001 (450.000 (4.950,000) Grous profit 2.000.000 350.000 2,350,000 Operating and other expenses (1.500,000) 0200.000 (1.700,000) Bond interest income 50000 fibond) 50,000 0 Bond interest expense 42.000) 42,000 fibond 0 Total expenses (1,450,000) 249.000 (1.700,000) Income from Subsidiary 30.000 ICI 30.000 0 Consolidated Net Income 580.000 101.000 68,000 Income attributable to NCI 1 27.000 127,0001 Income attributable to control int3580.000 100.000 715.000 Retained Earnings Statement Der Rot. Earnings 5760.000 $276.000 10 276,000 116.500 ADLI 878.500 Income attributable to controllo 580.000 101L000 500.000 Dividers Declared (200,0001 40.000 40,000 19 (200.000) Ending Retained taming 51.140.000 5344.000 $ 1.250 500 Balance Sheet 5700.000 $300.000 1,000,000 Accounts receivable 800.000 500.000 1.300,000 Inventories 1.000.000 800.000 1.800.000 Property Pant Equipment net 3.000.000 1.250.000 4.250.000 investment in Subsidiary 600.000 (ADII 118.500 694,500 24,000 bond Investment in Bond (net) 740.000 740,000 band Cash A