Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2019. Miller paid $800,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $200,000 both before and after Miller's acquisition. On January 1, 2019, Taylor reported a book value of $674,000 (Common Stock= $337,000; Additional Paid-In Capital $101,100; Retained Earnings = $235,900). Several of Taylor's buildings that had a remaining life of 20 years were undervalued by a total of $89,800. During the next three years, Taylor reports income and declares dividends as follows: Dividends Year Net Income 2019 $ 79,000 $11,500 2020 2021 103,500 17,400 115,900 23,300 Determine the appropriate answers for each of the following questions: a. What amount of excess depreciation expense should be recognized in the consolidated financial statements for the initial years following this acquisition? b. If a consolidated balance sheet is prepared as of January 1, 2019, what amount of goodwill should be recognized? c. If a consolidation worksheet is prepared as of January 1, 2019, what Entry S and Entry A should be included? d. On the separate financial records of the parent company, what amount of investment income would be reported for 2019 under each of the following accounting methods? The equity method. The partial equity method. The initial value method. e. On the parent company's separate financial records, what would be the December 31, 2021, balance for the Investment in Taylor Company account under each of the following accounting methods? The equity method. The partial equity method. The initial value method. f. As of December 31, 2020, Miller's Buildings account on its separate records has a balance of $932,000 and Taylor has a similar account with a $349,500 balance. What is the consolidated balance for the Buildings account? g. What is the balance of consolidated goodwill as of December 31, 2021? h. Assume that the parent company has been applying the equity method to this investment. On December 31, 2021, the separate financial statements for the two companies present the following information: Miller Company Taylor Common stock $ 582,500 Company $ 337,000 Additional paid-in capital Retained earnings, 12/31/21 326,200 722,300 101,100 482,100 What will be the consolidated balance of each of these accounts? Req A and B Req C Req D and E Req F and G Req Hi a.What amount of excess depreciation expense should be recognized in the consolidated 1 years following this acquisition? b. If a consolidated balance sheet is prepared as of January 1, 2019, what amount of goo a. Amount of excess depreciation b. Amount of goodwill Req A and B Req C > Req A and B Req C Req D and E Req F and G Req H If a consolidation worksheet is prepared as of January 1, 2019, what Entry S and Entry A a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries < 1 2 Prepare entry S. Note: Enter debits before credits. Date January 01, 2019 Accounts Debit Credit Req A and B Req C Req D and E Req F and G Req H If a consolidation worksheet is prepared as of January 1, 2019, what Entry S and Entry A: a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries < 1 2 Prepare entry A. Note: Enter debits before credits. Date January 01, 2019 Accounts Debit Credit Record entry Clear entry view general jour Req A and B Req C Req D and E Req F and G Req H d. On the separate financial records of the parent company, what amount of investment in under each of the following accounting methods? e. On the parent company's separate financial records, what would be the December 31, 2 Taylor Company account under each of the following accounting methods? The equity method The partial equity method The initial value method d. Investment Income e. Investment Balance < Req C Req F and G > Req A and B Req C Req D and E Req F and G Req H f. As of December 31, 2020, Miller's Buildings account on its separate records has a balanc similar account with a $349,500 balance. What is the consolidated balance for the Building g. What is the balance of consolidated goodwill as of December 31, 2021? f. Consolidated balance g. Consolidated balance Miller Taylor Company Company Common stock $ 582,500 $337,000 Additional paid-in capital 326,200 101,100 Retained earnings, 12/31/21 722,300 482,100 What will be the consolidated balance of each of these accounts? Complete this question by entering your answers in the tabs below. Req A and B Req C Req D and E Req F and G Req H Assume that the parent company has been applying the equity method to this investment separate financial statements for the two companies present the following information: Common stock Additional paid-in capital Retained earnings, 12/31/21 What will be the consolidated balance of each of these accounts? Common stock Additional paid-in capital Retained earnings, 12/31/21 Miller Cor $ 5: 3: 7.