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Determine the totals to be reported for this business combination for the year en Note: Input all amounts as positive values. Kelsey Corporation acquired 100 percent of Snowdon Company's outstanding common stock on January 1 for $567,300 in cash. Snowdon reported net assets with a carrying amount of $351,000 at that time. Some of Snowdon's assets either were unrecorded (having been internally developed) or had fair values that differed from book values as follows: No impairment charges occurred during the year. The following are financial statements at the end of the first year for these two companies prepared from their separately maintainec accounting systems. Snowdon declared and paid dividends in the same period. Credit balances are indicated by parentheses. Required: a. Which investment method did Kelsey use to compute the $234,160 income from Snowdon? Note: For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amoun in the debit column of the worksheet. Similarlv. combine all credit entries into one amount and enter this amount in the credit column Complete this question by entering your answers in the tabs below. Which investment method did Kelsey use to compute the $234,160 income from Snowdon? Which investment method did Kelsey use to compute the $234,160 income from Snowdon? Determine the totals to be reported for this business combination for the year en Note: Input all amounts as positive values. Kelsey Corporation acquired 100 percent of Snowdon Company's outstanding common stock on January 1 for $567,300 in cash. Snowdon reported net assets with a carrying amount of $351,000 at that time. Some of Snowdon's assets either were unrecorded (having been internally developed) or had fair values that differed from book values as follows: No impairment charges occurred during the year. The following are financial statements at the end of the first year for these two companies prepared from their separately maintainec accounting systems. Snowdon declared and paid dividends in the same period. Credit balances are indicated by parentheses. Required: a. Which investment method did Kelsey use to compute the $234,160 income from Snowdon? Note: For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amoun in the debit column of the worksheet. Similarlv. combine all credit entries into one amount and enter this amount in the credit column Complete this question by entering your answers in the tabs below. Which investment method did Kelsey use to compute the $234,160 income from Snowdon? Which investment method did Kelsey use to compute the $234,160 income from Snowdon