NOTE:THIS IS A CONTINUATION OF PROBLEM 3 (80% BALSHT) At the end of 2017Alpha and BetaHad the following financial statements: Income Statement Alpha Beta sales 890,000 300,000 cogs 400,000 120,000 gross profit 490,000 180,000 depreciation* 50,000 4,000 * both pieces (Alpha and Beta) have 10 year life 0 salvage depreciated straight line investment income ? 0 income ? 176,000 Balance sheet Alpha Beta Cash 550,000 140,000 accts receivable 600,000 160,000 note:both the accounts receivable and the accounts payable inventory 300,000 100,000 include the beginning balances. land 400,000 300,000 equipment 500,000 40,000 a/d equipment 100,000 14,000 investment in Beta A total assets B 726,000 accts payable 400,000 160,000 common stock (5 par) 250,000 100,000 additional paid in capital C 100,000 NOTE; THE ONLY STOCK TRANSACTION ALPHA HAD WAS retained earnings D 366000 THE PURCHASE OF BETA total liabilities plus equity 726,000 REQUIRED: (HINT:DON'T FORGET ABOUT DIVIDENDS BY ALPHA AND BETA!! ) A) MAKE ALPHA'S JOURNAL ENTRIES CONNECTED WITH ITS INVESTMENT IN BETA Note:let me know which method of accounting for the investment you are doing B) DETERMINE THE VALUES OF A, B, C AND D C) PREPARE A CONSOLIDATED BALANCE SHEET AS OF 12/31/17 D) PREPARE A CONSOLOIDATED INCOME STATEMENT FOR 2017 E) MAKE THE NECESSARY WORKSHEET ENTRIES.