On January 1, 2015, Parent Company purchased 90% of the common stock of Subsidiary Company for Cash $135,000. On this date, Subsidiary common stock, and retained earnings of $50,000, and $70,000. Net income and dividends for Subsidiary Company were $25,000 and $10,000. Parent Company has used the simple equity method for recording the Subsidiary income and dividends. On January 1, 2015, the only assets of Subsidiary that were undervalued were Patent. Patent was worth $30,000 more than cost, has a remaining life of 10 years, and straight- line amortization of excess. +Please The following trial balances of the two companies are prepared on December 31, 2015. Investment in Sub Patent Other Assets CS-P RE-P CS-S RE-S Revenue Expenses Patent Amortization Expense Sub Income Dividend Declared - S Required: Parent 148,500 Subsidiary 0 237,000 135,000 (200,000) (123,000) (50,000) (70,000) (100,000) (75,000) 60,000 50,000 (22,500) 10,000 Q1 Prepare the Determination and Distribution of Excess schedule table. Q2 Prepare all the eliminations and adjustments that would be made on the 2015 consolidated worksheet. Q3 Prepare the Income Distribution Schedules for both Subsidiary and Parent. Q4 Prepare the consolidated worksheet. Q5 Prepare the 2022 consolidated income statement and balance sheet (not retained earnings statement).