Herbert, Inc., acquired all of Rambis Company$$s outstanding stock on January $1,2020,$ for $$638,000$ in cash. Annual excess amortization of $$20,000$ results from this transaction. On the date of the takeover, Herbert reported retained earnings of $$405,000,$ and Rambis reported a $$252,000$ balance. Herbert reported internal net income of $$40,500$ in $2020$ and $$52,300$ in $2021$ and declared $$10,000$ in dividends each year. Rambis reported net income of $$29,500$ in $2020$ and $$41,300$ in $2021$ and declared $$5,000$ in dividends each year. a$.$ Assume that Herbert$$s internal net income figures above do not include any income from the subsidiary.If the parent uses the equity method, what is the amount reported as consolidated retained earnings on December $31,2021?$ What would be the amount of consolidated retained earnings on December $31,2021,$ if the parent had applied either the initial value or partial equity method for internal accounting purposes?b$.$ Under each of the following situations, what is the Investment in Rambis account balance on Herbert$$s books on January $1,2021?$The parent uses the equity method.The parent uses the partial equity method.The parent uses the initial value method.c$.$ Under each of the following situations, what is Entry $*$C on a $2021$ consolidation worksheet?The parent uses the equity method.The parent uses the partial equity method.The parent uses the initial value method.