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Door Company acquired 90% of Floor Company's outstanding common stock for $270,000 on January 1, 2020, when the book value and fair value of Floor's net assets was equal to $300,000. Door uses the equity method to account for investments. At end of 2020 Floor reported net income $75,000 and paid $20,000 dividends. The following trial balance summarizes the financial position and operations for Door and Floor as of December 31, 2021: Required: 1. Prepare required entries in Door Company at end of 2021 2. Prepare the elimination entries at end of 2021 3. Complete the consolidated worksheet shown below 4. Prepare Consolidated Income Statement Door Company acquired 90% of Floor Company's outstanding common stock for $270,000 on January 1, 2020, when the book value and fair value of Floor's net assets was equal to $300,000. Door uses the equity method to account for investments. At end of 2020 Floor reported net income $75,000 and paid $20,000 dividends. The following trial balance summarizes the financial position and operations for Door and Floor as of December 31, 2021: Required: 1. Prepare required entries in Door Company at end of 2021 2. Prepare the elimination entries at end of 2021 3. Complete the consolidated worksheet shown below 4. Prepare Consolidated Income Statement