In preparing its consolidated fnancial statements at December 31, 20X7, the following consolidation entries were included in the consolidation worksheet of Powder Corporation: Powder owns 60 percent of Snow Corporation's voting common stock. On January 1, 20X7, Snow sold Powder a building it had purchased for $610,000 on January 1, 20X1, and depreciated on a 20 -year straightline basis. Powder recorded depreciation for 207 using straight-line depreciation and the same useful life and residual value as Snow. Required: a. What amount did Powder pay Snow for the building? b. What amount of accumulated depreciation did Snow report at January 1,207, prior to the sale? f. If Snow reported net income of $78,000 for 207, what amount of income will be assigned to the noncontrolling interest in the consolidated income statement for 207 ? If Snow reported net income of $60,000 for 208, what amount of income will be assigned to the noncontrolling interest in the consolidated income statement for 208 ? c. What annual depreciation expense did Snow record prior to the sale? d. What expected residual value did Snow use in computing its annual depreciation expense? e. What amount of depreciation expense did Powder record in 207