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Need answers ASAP Power Company acquired 60% of Sue Corporation's stock for $2,970 in cash on January 1, 2018, when Sue's book value was $1,000,

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Power Company acquired 60% of Sue Corporation's stock for $2,970 in cash on January 1, 2018, when Sue's book value was $1,000, consisting of $300 in capital stock, $600 in retained earnings, and $100 in accumulated other comprehensive income. The fair value of the noncontrolling interest was $1,530 at the date of acquisition. Power uses the complete equity method to account for the investment on its own books. ? At the time of acquisition, all of Sue's assets and liabilities were reported at amounts approximationg fair value, except for unreported customer lists with a fair value of $200, with a remaining life of 4 years, straight-line, and plant assets that were undervalued by $600, with a remaining life of 10 years, straight-line. Goodwill arising from this acquisition is tested annually for impairment. Goodwill impairment for the period 2018-2020 is $400. Goodwill impairment for 2021 is $100. It is now December 31, 2021, 4 years after the acquisition, and you are preparing the consolidated financial statements. Sue reported net income of $800, an other comprehensive loss of $20, and declared and paid dividends of $150 for 2021. Sue's January 1, 2021 shareholders' equity accounts, taken from its trial balance, are as follows: Capital stock $ 300 Retained earnings, January 1 1,550 Accumulated other comprehensive income, January 1 140 Total shareholders' equity, January 1 $ 1,990 Required Calculate total goodwill at the date of acquisition and its allocation and percentages (%) to the controlling and noncontrolling interest. b. Calculate equity in net income of Sue for 2021, as reported on Power's separate books, and noncontrolling interest in net income of Sue for 2021, as reported on the consolidated income statement. hs Calculate the December 31, 2021 balance for Investment in Sue, as reported on Power's separate books. C. Prepare the eliminating entries, C.E.R, O,N in journal form, to consolidate Power's and Sue's trial balances at December 31, 2021. d

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