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need help. i labeled 123 in the answer box and put an arrow next to the ones I need help on. include the calculation for

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need help. i labeled "123" in the answer box and put an arrow next to the ones I need help on. include the calculation for each part.

q7

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Question 10' Partially correct Mark 7.78 out of 1 0.00 V Flag question Determining ending consolidated balances in the third year following the acquisitionCost method Assume a parent company acquired a subsidiary onJanuary 1, 2017, for $1,000,000. The purchase price was $650,000 in excess of the subsidiary's $350,000 book value of Stockholders' Equity on the acquisition date. Of this excess purchase price, $400,000 was assigned to Property, plant and equipment with a remaining economic useful life of 8 years, and $250,000 was assigned to Goodwill. On the acquisition date, the subsidiary reported retained earnings equal to $80,000. The parent uses Investment cost method of preconsolidation Equity investment bookkeeping. The nancial statements of the parent and its subsidiary for the year ended December 31, 2019, are as follows: Income statement: Sales l[lost ofgoods sold lGross profit Investment income Operating expenses Net income Statement of retained earnings: BOY retained earnings Net income Dividends Ending retained earnings Parent $2,400,000 {1,300,000} 1,100,000 50,000 (600,000) $550,000 $1,500,000 550,000 (250,000) $1,800,000 Subsidiary $900,000 (550,000) 350,000 (250,000) $100,000 $ 500,000 100,000 (50,000) $ 550,000 Balance sheet: Assets Cash Accounts receivable Inventory Equity investment Property, plant and equipment {PPE}, net Liabilities and stockholders\" equity Accounts payable Accrued liabilities Longterm liabilities Common stock APIC Retained earnings Parent $1,100,000 1,500,000 2,400,000 1,000,000 4,000,000 $10,000,000 $1,000,000 800,000 3,000,000 500,000 2,900,000 1,800,000 Subsidiary $150,000 240,000 500,000 1,000,000 $1,890,000 $170,000 200,000 700,000 120,00 150,00 4r 550,00 Statement of retained earnings: BUY retained earnings $1,500,000 $ 500,000 Liabilities and stockholders' equity Netincome 550,000 100,000 Accounts payable $1,000,000 $1?0,000 Ending retained earnings 3,000,000 700,000 $10,000,000 $1,890,000 At what amount will the following accounts appear in the consolidated nancial statements for the year ended December 31, 2019? Account Amount a. Sales $ 3,300,000 b. Investment Income $ 0 c, Operating expenses $ 900,000 cl. Inventories $ 2,900,000 e. Equity investment $ 0 f. PPE, net :15 123 g. Goodwill $ 250,000 h. Common Stock $ 500,000 i. Retained Earnings $ 123 You have correctly selected 7. Partiallyr correct Marks for this submission: 178110.00. Question 7 Partially correct Mark 7.78 out of 10.00 V Flag question Determining ending consolidated balances in the second year following the acquisition Equity method Assume a parent company acquired a subsidiary onJanuary 1, 2018. The purchase price was $760,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following [A] assets: Original Original Useful Life Amount {years} Property, plant and equipment {PPE}, net $360,000 12 Goodwill 400,000 Indefinite $760,000 The AAP asset relating to undervalued PPE with a 12year useful life has been depreciated as part of the parent's equity method accounting. The nancial statements of the parent and its subsidiary for the year ended December 31, 2019, are as follows: Parent Subsidiary Parent Subsidiary Income statement: Balance sheet: Sales $6,000,000 $1,500,000 Assets Cost of goods sold {3,500,000} (900,000) Cash $727,000 $386,000 Gross profit 2,500,000 600,000 Accounts receivable 1,000,000 348,000 Equity income 170,000 Inventory 1,600,000 442,000 Operating expenses {1,000,000} (400,000) Equity investment 1,873,000 Property, plant and equipment Net income $1,670,000 $200,000 {PPE}, net 4,800,000 824,000 $10,000,000 $2,000.00 Statement of retained earnings: Statement of retained earnings: Liabilities and stockholders BOY retained earnings $1,000,000 $780,000 equity Net income 1,670,000 200,000 Accounts payable $900,000 $140,000 Dividends [210,000] {32,000} Accrued liabilities 1,200,000 187,000 Ending retained earnings $2,460,000 $948,000 Long-term liabilities 2,800,000 500,000 Common stock 640,000 100,000 APIC 2,000,000 1 25,000 Retained earnings 2,460,000 948,000 $10,000,000 $2,000,000 At what amount will the following accounts appear on the consolidated nancial statements? Note: Do not use negative signs with your answers. a. Sales 53' Equity income Operating expenses Accounts receivable Equity investment Goodwill P'OIOTHFDP-F\" Common stock i. Retained earnings You have correctly selected 7. Partially correct Marks for this submission: 128110.00. Property plant and equipment [PPE] net $ $ $ $ $ $ $ $ $ 7,500,000 0 123 H 1,343,000 0 123 a.. 400,000 640,000 2,460,000 Question 3 Partially correct Mark 9.00 out of 10.00 V Flag question Determining ending consolidated balances in the third year following the acquisition Equity method Assume that your company acquired a subsidiary onlanuary 1, 201?. The purchase price was $800,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following [A] assets: Original Original [A] Asset Amount Useful Life Patent $500,000 10 years Goodwill 300,000 Indenite $800,000 The [A] assets with a useful life have been amortized as part of the parent's equity method accounting. The financial statements of the parent and its subsidiary for the year ended December 31, 2019, are as follows: Parent Subsidiary Parent Subsidiary Income statement: Balance sheet: Sales $3,000,000 $900,000 Assets Cost of goods sold {2,000,000} (500,000) Cash $700,000 $100,000 Gross prot 1,000,000 400,000 Accounts receivable 910,000 200,000 Equity income 150,000 Inventory 1,200,000 300,000 Operating expenses (450,000) (200,000) Equity investment 1,590,000 Property, plant and equipment Net income $700,000 $200,000 {PPE}, net 3,000,000 800,000 $2,400,000 $1,400,000 Statement of retained earnings: Liabilities and stockholders\" BUY retained earnings $2,500,000 $ 400,000 equity E Net income 700 000 200 000 Accounts a able 400 000 90 000 BOY retained earnings $2,500,000 $ 400,000 Net income 700,000 200,000 Dividends {200,000} {40,000} Ending retained earnings $3,000,000 $ 560.000 Liabilities and stockholders' equity Accounts payable Accrued liabilities Long-term liabilities Common stock APIC Retained earnings $?,400.00U $'l 5100.000 At what amount will the following accounts appear in the consolidated nancial statements for the year ended December 31 , 2019? Amount 2,500,000 Account a. Cost ofgoods sold b7 Equity income c7 Operating expenses d7 Cash e. Equity investment f. PPE, net $ $ $ 800 000 $ 3 800 000 $ 3. Patent 350 000 h Goodwill $ 300 000 $ 500 000 i. Common Stock $ 3,000 000 j. Retained Earnings You have correctly selected 9. Partially correct Marks for this submission: 9.0011000. Question 9 Not complete Mark 7.78 out of 10.00 1' Flag question Determining ending consolidated balances in the second year following the acquisitionCost method Assume a parent company acquired a subsidiary onlanuary 1, 2018, for $1,200,000. The purchase price was $650,000 in excess of the subsidiary's $550,000 book value of Stockholders' Equity on the acquisition date. Of this excess purchase price, $250,000 was assigned to Property, plant and equipment with a remaining economic useful life of 10 years, and $400,000 was assigned to Goodwill. On the acquisition date, the subsidiary reported retained earnings equal to $280,000. The parent uses the cost method of preconsolidation Equity investment bookkeeping. The nancial statements of the parent and its subsidiary for the year ended December 31, 2019, are as follows: Parent Subsidiary Parent Subsidiary Income statement Balance sheet Sales $5,000,000 $1,200,000 Assets Cost of goods sold {3,000,000} (700,000) Cash $800,000 $150,000 Gross profit 2,000,000 500,000 Accounts receivable 1,000,000 340,000 Equity income 40,000 Inventory 1,600,000 500,000 Operating expenses {1,500,000} (400,000) Equity investment 1,200,000 Net income $540,000 $100,000 Property, plant & equipment 3,000,000 900,000 Statement of retained earnings $7,600,000 $1,890,000 BUY retained earnings 1,500,000 600,000 Liabilities and stockholders' equity Net income 540,000 100,000 Accounts payable $700,000 $140,000 Dividends (200,000) (40,000) Accrued liabilities 900,000 220,000 Ending retained earnings $1,840,000 $660,000 Long-term liabilities 2,500,000 600,000 Common stock 500,000 120,000 APIC 1,160,000 150,000 Retained earnings 1,840,000 660,000 $7,600,000 $1,890.00 At what amount will the following accounts appear on the consolidated nancial statements? Operating expenses (1,500,000) (400,000) Equity investment 1,200,000 Net income $540,000 $100,000 Property, plant & equipment 3,000,000 900,000 Statement of retained earnings $7,600,000 $1,890,000 BOY retained earnings 1,500,000 600,000 Liabilities and stockholders' equity Net income 540,000 100,000 Accounts payable $700,000 $140,000 Dividends (200,000) (40,000) Accrued liabilities 900,000 220,000 Ending retained earnings $1,840,000 $660,000 Long-term liabilities 2,500,000 600,000 Common stock 500,000 120,000 APIC 1,160,000 150,000 Retained earnings 1,840,000 60,000 $7,600,000 $1,890,000 At what amount will the following accounts appear on the consolidated financial statements? Do not use negative signs with any of your answers. a. Sales $ 6,200,000 b. Investment income $ C. Operating expenses $ 1,925,000 d. Inventories $ 2,100,000 . Equity investment $ f. Property, plant & equipment, net $ 123 g. Goodwill $ 400,000 h. Common stock $ 500,000 i. Retained earnings $ 123 Check You have correctly selected 7. Partially correct Marks for this submission: 7.78/10.00

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