On January 1, 2017, Top Company acquired an 80 percent interest in Bottom Company for $425,000. The acquisition-date fair value of the 20 percent noncontrolling interest's ownership shares was $102,500. Also as of that date, Bottom reported total stockholders' equity of $400,000: $100,000 in common stock and $300,000 in retained earnings. In setting the acquisition price, Top appraised four accounts at values different from the balances reported within Bottom's financial records. Buildings (8-year remaining life) Undervalued by $ 20,000 Land Undervalued by $50,000 Equipment (5-year remaining life) Undervalued by $ 12,500 Royalty agreement (20-year remaining life) Not recorded, valued at $ 30,000 As of December 31, 2021, the trial balances of these two companies are as follows: Top Company Bottom Company Debits Current assets Investment in Bottom Co. Land Building (net) Equipment (net) Expenses Dividends declared Total debits $ 605,000 425,000 200,000 640,000 380,000 550,000 90,000 $ 2,890,000 $ 280,000 -0- 300,000 290,000 160,000 190,000 20,000 $ 1,240,000 Credits Liabilities Common stock Retained earnings, 1/1/21 Revenues Dividend Income Total credits $ 910,000 480,000 704,000 780,000 16,000 $ 2,890,000 $ 300,000 100,000 480,000 360,000 -0- $ 1,240,000 Included in these figures is a $20,000 payable that Bottom owes to the parent company. No goodwill impairments have occurred since the Bottom Company acquisition. a. Required Determine consolidated totals for Top Company and Bottom Company for the year 2021. b. Prepare worksheet entries to consolidate the trial balances of Top Company and Bottom Company for the year 2021. Assume instead that the acquisition-date fair value of the noncontrolling interest was $104,500. What balances in the December 31, 2021, consolidated statements would change? c. On January 1, 2017, Top Company acquired an 80 percent interest in Bottom Company for $425,000. The acquisition-date fair value of the 20 percent noncontrolling interest's ownership shares was $102,500. Also as of that date, Bottom reported total stockholders' equity of $400,000: $100,000 in common stock and $300,000 in retained earnings. In setting the acquisition price, Top appraised four accounts at values different from the balances reported within Bottom's financial records. Buildings (8-year remaining life) Undervalued by $ 20,000 Land Undervalued by $50,000 Equipment (5-year remaining life) Undervalued by $ 12,500 Royalty agreement (20-year remaining life) Not recorded, valued at $ 30,000 As of December 31, 2021, the trial balances of these two companies are as follows: Top Company Bottom Company Debits Current assets Investment in Bottom Co. Land Building (net) Equipment (net) Expenses Dividends declared Total debits $ 605,000 425,000 200,000 640,000 380,000 550,000 90,000 $ 2,890,000 $ 280,000 -0- 300,000 290,000 160,000 190,000 20,000 $ 1,240,000 Credits Liabilities Common stock Retained earnings, 1/1/21 Revenues Dividend Income Total credits $ 910,000 480,000 704,000 780,000 16,000 $ 2,890,000 $ 300,000 100,000 480,000 360,000 -0- $ 1,240,000 Included in these figures is a $20,000 payable that Bottom owes to the parent company. No goodwill impairments have occurred since the Bottom Company acquisition. a. Required Determine consolidated totals for Top Company and Bottom Company for the year 2021. b. Prepare worksheet entries to consolidate the trial balances of Top Company and Bottom Company for the year 2021. Assume instead that the acquisition-date fair value of the noncontrolling interest was $104,500. What balances in the December 31, 2021, consolidated statements would change? c