On Jansary 1. 2020. Travers Company acquifed 00 percent of Varrow Compary's outstanding atock for $720,000 The 10 percent noncontrolliog interest had an assensed fair value Any excese fair value was attibuted to a fully amortized copyright that had a remaining life of to yeari. Althought both investments are accounted for ysing the initial value meiliod compony operating earnings. Keported incotme totats for 2020 tollow The following are the 2021 linancial statemente for these three companies (cedit balancee indicated by parentieses) Stookey has transterred numerous ameants of inventory to Yarrow since the takeover amounting to $40,000(2020) and 5100,000(2021). These transactlons include the same markup applicable to Steokey s outside tales If each yeat Yarrow carried 20 percent of this inventory into the succeeding year before disposing of it An elfective tax rate of 21 percent is apphicable to all companies. All dividend declaration are paid in the same perind. a. Prepare the business combination's 2021 consolidation wotkshoet, ignore income the aflects. b. Delermine the amount of income tax for Iravers and Yarrow on a coneolidated tax return for 2021 c. Detemine the amount of Stookey'e income tax on a keDarate tax return for 2021 d. Bosed on the answers to requirements (b) and (c), what joumal entry does this combinalion make to record 2021 income tiax? On Jansary 1. 2020. Travers Company acquifed 00 percent of Varrow Compary's outstanding atock for $720,000 The 10 percent noncontrolliog interest had an assensed fair value Any excese fair value was attibuted to a fully amortized copyright that had a remaining life of to yeari. Althought both investments are accounted for ysing the initial value meiliod compony operating earnings. Keported incotme totats for 2020 tollow The following are the 2021 linancial statemente for these three companies (cedit balancee indicated by parentieses) Stookey has transterred numerous ameants of inventory to Yarrow since the takeover amounting to $40,000(2020) and 5100,000(2021). These transactlons include the same markup applicable to Steokey s outside tales If each yeat Yarrow carried 20 percent of this inventory into the succeeding year before disposing of it An elfective tax rate of 21 percent is apphicable to all companies. All dividend declaration are paid in the same perind. a. Prepare the business combination's 2021 consolidation wotkshoet, ignore income the aflects. b. Delermine the amount of income tax for Iravers and Yarrow on a coneolidated tax return for 2021 c. Detemine the amount of Stookey'e income tax on a keDarate tax return for 2021 d. Bosed on the answers to requirements (b) and (c), what joumal entry does this combinalion make to record 2021 income tiax