Large Ltd, purchased 80% of Small Company on January 1, Year 6, for $760,000, when the statement of financial position for Small showed common shares of $550,000 and retained earnings of $250,000. On that date, the inventory of Small was undervalued by $70,000, and a patent with an estimated remaining life of five years was overvalued by $88,000. Smail reported the following subsequent to January 1. Year 6: Year 6 Year 2 Year Profit (Loss) $140,000 50,000) 105,000 Dividends $40.000 25,000 55,000 A test for goodwill impairment on December 31, Year 8, indicated a loss of $20,800 should be reported for Year 8 on the consolidated Income statement. Large uses the cost method to account for its investment in Small and reported the following for Year 8 tor its separate-entity statement of changes in equity Retained earnings. beginning Profit Dividends Betained earnings, and $ 650.000 350.000 (55,000 5.945,000 Required: (a) Prepare the cost method journal entries of Large for each year (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) (b) Compute the following on the consolidated financial statements for the year ended December 31, Year 8 (Omit $ sign in your response.) Goodwill Goodwill ) Non-controlling interest on the statement of financial position Non-controlling interest GH) Retained earnings, beginning of year Retained earnings, beginning of year $ ) Profit attributable to Large's shareholders Profit attributable to Large's shareholders $ () Profit attributable to non-controlling interest Profit attributable to non-controlling interest (c) Now assume that Large is a private entity, nes ASPE, and chooses to use the city method to report to investment in Small Prepare Large's journal entries for each year related to investment in Small Of no entry is required for a transaction/event. select "No journal entry required in the first account field.) vas 01) Determine the investment in Salt December 31 Year (Omit sign in your response) Investment in Small under equity method $