I need help with this question. I only need part C, D , E and F , Please do it correctly, only need these 4 parts, the first two parts are correct which i did, you can see the values, I am stuck on only PART C, D, 3 F

Prepare consolidation spreadsheet for intercompany sale of equipment-Cost method Assume that a parent company acquired a subsidiary on January 1, 2012 for $862,000. The purchase price was $329,000 in excess of the book value of the subsidiary's Stockholders' Equity on the acquisition date. On the acquisition date, the subsidiary's stockholders equity was comprised of $390,000 of no-par common stock and $143,000 of retained earnings. The Acquisition Accounting Premium (AAP) was assigned as follows: an increase of $23,000 in accounts receivable that were entirely collected during the year after acquisition, an increase of $65,000 for property, plant and equipment that has 10 years of remaining useful life, $114,000 for an unrecorded patent with an 8-year remaining life and $127,000 for goodwill. All amortizable components of the AAP are amortized using the straight-line method. On January 1, 2014, the parent sold Equipment to the subsidiary for a cash price of $131,700. The parent had acquired the equipment at a cost of $127,800 and depreciated the equipment over its 12-year useful life using the straight-line method (no salvage value). The parent had depreciated the equipment for 2 years at the time of sale. The subsidiary retained the depreciation policy of the parent and depreciates the equipment over its remaining 10-year useful life. Following are financial statements of the parent and its subsidiary as of December 31, 2016. The parent uses the cost method of pre- consolidation investment bookkeeping. Parent Subsidiary III Parent Subsidiary Income statement Balance sheet Sales $1,300,000 $598,000 Assets Cost of goods sold (715,000) (364,000) Cash $117,000 $78,000 Gross profit 585,000 234,000 Accounts receivable 156,000 117,000 Deprec. & amort. Expense (39,000) (26,000) Inventory 364,000 182,000 Operating expenses (390,000) (104,000) Equity investment 862,000 Interest expense (19,500) (6,500) Property, plant & equipment 442,000 312,000 Total expenses (448,500) (136,500) Other assets 169,000 286,000 Income (loss) from subsidiary 45,500 Total assets 2,110,000 $975,000 Net income $182,000 $97,500 Liabilities and stockholders' equity Accounts payable $325,000 $70,200 Statement of retained earnings Accrued liabilities 32,500 59,800 BOY retained earnings $715,000 $325,000 Notes payable 195,000 78,000 Net income 182,000 97,500 Common stock 810,000 390,000 Dividends (149,500) (45,500) Retained earnings 747,500 377,000 Ending retained earnings $747,500 $377,000 Total liabilities and equity 2,110,000 $975,000 a. Prepare the journal entry that the parent made to record the sale of the equipment to the subsidiary, the journal entry that the subsidiary made to record the purchase, and the [I] entries for the year of sale. Parent General Journal Description Credit Cash 131,700 Accumulated depreciation 21,300 Gain on sale of equipment 25,200 Equipment 127,800 To record sale of equipment Debit 0 0 0 0 Subsidiary General Journal Description Debit Equipment 131,700 Cash 0 To record purchase of equipment. Credit 0 131,700 Consolidation Journal Description Debit [lgain] Gain on sale of equipment 25,200 Equipment 0 Accumulated depreciation 0 [ldep] Accumulated depreciation 2,520 Depreciation expense 0 Credit 0 3,900 21,300 0 2,520 b. Compute the remaining portion of the deferred gain at January 1, 2016. $ 20,160 Active C. Prior to preparing consolidated financial statements, compute the amount of equity income the parent would have reported for the year ended December 31, 2016 assuming the parent applied the equity method instead of the cost method of pre-consolidation bookkeeping. $ 0 d. Prior to preparing consolidated financial statements, compute the amount of Equity investment the parent would have reported on December 31, 2016 assuming the parent applied the equity method instead of the cost method of pre-consolidation bookkeeping. Do not use negative signs with your answers below. Equity Investment ("as if" Equity Method) Common Stock (5) @ BOY 390,000 Retained Earnings (s) @ BOY 377,000 Add: Unamortized AAP @ EOY Deduct: Unconfirmed gain @ EOY EOY Investment ("as if" equity method) $ OX 0X $ 0 X [E] e. Prepare the consolidation entries for the year ended December 31, 2016. Consolidation Journal Description Debit Credit (ADJ) Equity investment OX 0 BOY Retained earnings-Parent 0 OX [C] Income (loss) from subsidiary 45,500 0 Dividends 0 45,500 BOY Common stock (Subsidiary) 390,000 0 BOY Retained earnings-Subsidiary 325,000 0 Equity investment 0 715,000 [A] PPE, net 0 X 0 Patent OX 0 Goodwill 127,000 0 Equity investment 0 OX [D] Deprec. & amort. expense OX 0 PPE, net 0 OX Patent 0 0 x [lgain) Equity investment OX PPE.net 0 OX [ldep] PPE, net 0 X 0 Deprec. & amort. expense 0 Ox >>>> f. Prepare the consolidation spreadsheet for the year ended December 31, 2016. Use negative signs with your answers in the Consolidated column for: Cost of goods sold, all expenses (inc. Total expenses) and Dividends. Consolidation Worksheet Subsidiary Debit Parent Credit Consolidated $ $598,000 (364,000) 234,000 (26,000) (104,000) (6,500) (136,500) [D] OX $1,300,000 (715,000) 585,000 (39,000) (390,000) (19,500) (448,500) 45,500 $182,000 0 x [ldep] 1,898,000 (1,079,000) 819,000 OX (494,000) (26,000) 0 X 0 (C) 45,500 $97,500 $ OX Income statement Sales Cost of goods sold Gross profit Deprec. & amort. expense Operating expenses Interest expense Total Expenses Income (loss) from subsidiary Net income Retained earnings statement: BOY retained earnings Net income Dividends Ending retained earnings Balance sheet: Assets Cash Accounts receivable Inventory Equity investment [E] 325,000 0 X [AD]] $ 0 X $715,000 182,000 (149,500) $747,500 $325,000 97,500 (45,500) $377,000 45,500 [C] OX 0 X 0 x $ $78,000 $ $117,000 156,000 364,000 862,000 117,000 182,000 195,000 0X 546,000 0 OX OX [AD] [lgain] [A] [ldep] OX [E] OX [A] OX [D] 0 x [gain) PPE, net 442,000 312,000 OX 0 x 169,000 286,000 OX 0 X [D] Other assets Patent Goodwill Total assets [A] [A] 455,000 42,750 127,000 OX 127,000 2,110,000 $975,000 $ 0 X PPE, net 442,000 OX 0 X [A] OX [D] 0 x [gain) 0X 169,000 Other assets Patent [lgain] 312,000 [A] [ldep] 286,000 [A] [A] $975,000 OX OX [D] 455,000 42,750 127,000 127,000 2,110,000 $ $ 395,200 Goodwill Total assets Liabilities & stockholders' equity Accounts payable Accrued liabilities Notes payable Common stock EOY Retained earnings Total liabilities and equity 92,300 273,000 $325,000 32,500 195,000 810,000 747,500 $2,110,000 $70,200 59,800 78,000 390,000 377,000 $975,000 [E] 390,000 0 X OX OX $ 0X $ 0X $ Partially correct Marks for this submission: 6.79/10.00