I'm really struggling to calculate the following amounts, so help would be greatly appreciated.

Explanations as to how you get the answers would be greatly appreciated as well!

Protecto Corporation purchased 70 percent of Strand Company's outstanding shares on January 1, 20X1, for $33,600 more than book value. At that date, the fair value of the noncontrolling interest was $14,400 more than 30 percent of Strand's book value. The full amount of the differential is considered related to patents and is being amortized over an eight-year period. In 20X1, Strand purchased a piece of land for $36,000 and later in the year sold it to Protecto for $48,000. Protecto is still holding the land as an investment. During 20X3, Protecto bonds with a value of $105,000 were exchanged for equipment valued at $105,000.

On January 1, 20X3, Protecto held inventory purchased previously from Strand for $49,200. During 20X3, Protecto purchased an additional $92,000 of goods from Strand and held $55,200 of this inventory on December 31, 20X3. Strand sells merchandise to the parent at cost plus a 20 percent markup.

Strand also purchases inventory items from Protecto. On January 1, 20X3, Strand held inventory it had previously purchased from Protecto for $14,700, and on December 31, 20X3, it held goods it had purchased from Protecto for $8,400 during 20X3. Strand's total purchases from Protecto in 20X3 were $24,000. Protecto sells inventory to Strand at cost plus a 40 percent markup.

The consolidated balance sheet at December 31, 20X2, contained the following amounts:

Debit Credit Cash $ 94, 000 Accounts Receivable 140, 000 Inventory 145,000 Land 70, 000 Buildings and Equipment 420, 000 Patents 36,000 Accumulated Depreciation $210, 000 Accounts Payable 149, 660 Bonds Payable 92, 000 Noncontrolling Interest 68, 340 Common Stock 110, 000 Retained Earnings 275, 000 Totals $905, 000 $905, 000PROTECTU CURPDRAIIOH AND STRAND CHPANY Consolidation Horksheet December 31, 2033 Consolidation Entries Protecto Strand Corporation Company DB CR Consolidated Income Statement Sales $ 410,000 $ 220,005 $ 92,000 $ 514,050 24,000 Less: Cost of Goods Sold (235,000: (130,005: $ 3,200 {293,250: 32,300 4,200 21,500 Less: Depreciation Expense (25,000: (15,005: {42,0503 Less: Amortization Expense 5,000 {5,0503 Less: Other Expense {34,0003 {32,0053 {55,0503 Income from Strand Co. 25,300 30,500 4,200 0 Consolidated Net Income $ 91,300 $ 42,005 $152,500 $121,000 $ 101,350 NCI in Net Income of Strand 12,300 1,300 {10,5503 Controlling Interest in Net Income $ 91.300 $ 42.00C $154,300 $122,300 $ 91.3CU Statement of Retained Earnings Beginning Balance $ 235.000 $ 150,005 $150,000 $ 235,050 Net Income 91,300 42,005 154,300 $122,300 91,350 Less: Dividends Declared (52,000: (20,305: 20,300 {52,0503 Ending Balance $ 314,300 $ 131,205 $324,300 $143,500 $ 314,350 Balance Sheet Assets Cash $ 23,000 $ 35,505 $ 52,550 Accounts Receivable 30,200 40,205 120,450 Inventory 120,100 90,205 $ 9,200 193,350 2,400 Patent $ 30,000 30,050 Investment in Subsidiary 153,000 3,400 154,340 0 5,340 21,000 4,200 Land 31,000 20,205 12,000 39,250 Buildings and Equipment 343,000 220,005 30,000 493,050 Less: Accumulated Depreciation (155,000: {35,0053 30,000 {132,050} 0 Total Assets $ 545,300 $ 320,105 $113,340 $233,940 $ 305,350 Liabilities 5 Equity Accounts Payable $ 95,000 $ 15,905 $ 111,950 Bonds Payable 125,000 31,005 193,050 Common Stock 110,000 52,005 $ 52,000 110,050 Retained Earnings 314,300 131,205 324,300 $143,500 314,350 NCI in HA of Strand 3,500 59,550 32,550 2,450 9,000 Total Liabilities 5 Equity $ 545,300 $ 320,105 $332,350 $222,250 $ 305,350 Consolidated Cash Flow Worksheet Year Ended December 31, 20X3 Consolidation Entries Item Balance 1/1/X3 Debit Credit Balance 12/31/X3 Assets Cash $ 94,000 $ 31,500 $ 62,500 Accounts receivable 140,000 19,600 120,400 Inventory 145,000 53,700 198,700 Land 70,000 9,200 79,200 Buildings and equipment 420,000 420,000 Less: Accumulated depreciation (210,000) 0 x (210,000) Patents 36,000 Ox 36,000 Total Assets $ 695,000 $ 706,800 Liabilities & Equity Accounts payable 149,660 0 x 149,660 Bonds payable 92,000 105,000 197,000 Common stock 110,000 110,000 Retained earnings 275,000 0 x Ox 275,000 Joncontrolling interest 0 x O X 0 x Total Liabilities & Equity $ 626,660 $ 62,900 $ 156, 100 $ 731,660 Cash Flows from Operating Activities: Consolidated net income $ 0 x Amortization expense 0 x Depreciation expense 0 x Decrease in accounts receivable 0 x Increase in inventory 0 x Decrease in accounts payable O X Cash Flows from Investing Activities: Purchase of land Acquisition of buildings and equipment from bond ssue Ox Purchase of buildings and equipment 0 x Cash Flows from Financing Activities: Dividends Paid To Protecto Corp. shareholders 0 x To noncontrolling shareholders Ox Issuance of bonds for buildings and equipment 105,000 Decrease in cash 0 x $ 105,000 0