it's only 1 question. the last pic

On May 1, 2015, Peters Company purchased 80% of the common stock of Smith Company for $50,400. Additional data concerning these two companies for the years 2015 and 2016 are: Any difference between book value and the value implied by the purchase price relates to Smith Company's land. Peters Company uses the cost method to record its investment. Date Account Titles and Explanation Debit Credit 2015 Dividend Income Dividends Declared - Subsidiary Company (To record dividend income) Common Stock-Subsidiary Company Other Contributed Capital - Subsidiary Company Retained Eamings-Subsidiary Company Difference between Implied and Book Value Subsidiary Income Purchased Investment in Subsidiary Noncontrolling Interest (To eliminate investment in subsidiary and create noncontrolling interest) Land Difference between Implied and Book Value 4000 (To eliminate excess of the book value of equity acquired.) 2016 Investment in Subsidiary 24000 Retained Earnings - Parent Company (To establish reciprocity) Common Stock-Subsidiary Company Other Contributed Capital - Subsidiary Company