Need answers 5-14 please

Verify the amount of Income from Santa for $41,500 (1 point).

Unrealized profit in Santas beginning inventory is (1 point): $_________________.

Unrealized profit in Santas ending inventory is (1 point): $_________________.

Patent (net) that appear in the Dec. 31, 20X2 consolidated balance sheet (show all of your calculations) (1 point):

$_______________

Verify the balance of investment in Santa that appear in the 20X2 Pantas balance sheet

(1 point):

$_________________.

How much investment in Santa is reported in the 20X2 consolidated balance sheet? (1 point)

$_______________.

Minority Interest Income (Expense) for 20x2 (show all of your calculations) is (1 point):

$________________.

Consolidated (controlling group) net income for 20X2 is (1 point): $_______________.

Show, in detail, working paper eliminating entries for all inter-company merchandize inventory transactions in order to prepare 20x2 consolidated financial statements

(2 points).

Prepare Consolidated Income Statement for year 20X2 (1 point).

Problem 1(14 Points): Santa Corporation is 90 percent owned subsidiary of Panta Corporation, acquired by Panta on January 1, 20X1 for $270,000 when Santa's common stock and retained earmings were $100,000 and $150,000 respectively. All book values of Santa's assets and liabilities were equal to their fair values except unrecorded patent which its fair value is equal the differential value with remaining life of 10 years. Both fims are using FIFO method of inventory. Followings are the transactions of merchandize between these two firms: Cost Sales value Ending Inventory 20X1 Panta sold to Santa 20X2 Panta sold to Santa $60,000$80,000 80,000 $16,000 15,000 100,000 Panta Santa Separate income (not included Investment income) for 20X1 Dividend $40,000 $30,000 Income statements for Panta and Santa Corporations for 20X2 are: Panta Santa $300,000 $150,000 Sales Income from Santa Cost of Sales Other expenses Net Income Dividend 41,500 (200,000) (67.00? S 74,500 (90,000) 110,000) 50,000 Balance Sheet item (December 31, 20X2): Investment in Santa $330,000 Problem 1(14 Points): Santa Corporation is 90 percent owned subsidiary of Panta Corporation, acquired by Panta on January 1, 20X1 for $270,000 when Santa's common stock and retained earmings were $100,000 and $150,000 respectively. All book values of Santa's assets and liabilities were equal to their fair values except unrecorded patent which its fair value is equal the differential value with remaining life of 10 years. Both fims are using FIFO method of inventory. Followings are the transactions of merchandize between these two firms: Cost Sales value Ending Inventory 20X1 Panta sold to Santa 20X2 Panta sold to Santa $60,000$80,000 80,000 $16,000 15,000 100,000 Panta Santa Separate income (not included Investment income) for 20X1 Dividend $40,000 $30,000 Income statements for Panta and Santa Corporations for 20X2 are: Panta Santa $300,000 $150,000 Sales Income from Santa Cost of Sales Other expenses Net Income Dividend 41,500 (200,000) (67.00? S 74,500 (90,000) 110,000) 50,000 Balance Sheet item (December 31, 20X2): Investment in Santa $330,000