On January 1, 2019, Aspen Company acquired 80 percent of Birch Company's voting stock for $424,000. Birch reported a $425,000 book value, and the fair value of the noncontrolling interest was $106,000 on that date. Then, on January 1, 2020, Birch acquired 80 percent of Cedar Company for $232,000 when Cedar had a $218,000 book value and the 20 percent noncontrolling interest was valued at $58,000. In each acquisition, the subsidiary's excess acquisition-date fair over book value was assigned to a trade name with a 30-year remaining life. These companies report the following financial information. Investment income figures are not included. Sales: Aspen Company Birch Company Cedar Company Expenses: Aspen Company Birch Company Cedar Company Dividends declared: Aspen Company Birch Company Cedar Company 2019 2020 2021 $ 652,500 $ 785,000 $ 885,000 292,500 Not available 335,750 611,200 213,100 236,600 $ 447,500 $ 485,000 $ 615,000 230,000 Not available 251,000 203,000 527,500 187,000 $ 20,000 $ 40,000 $ 50,000 10,000 Not available 15,000 2,000 15,000 10,000 Assume that each of the following questions is independent: a. If all companies use the equity method for internal reporting purposes, what is the December 31, 2020, balance in Aspen's Investment in Birch Company account? b. What is the consolidated net income for this business combination for 2021? c. What is the net income attributable to the noncontrolling interest in 2021? d. Assume that Birch made intra-entity inventory transfers to Aspen that have resulted in the following intra-entity gross profits in inventory at the end of each year: Date Amount 12/31/19 $12,000 12/31/20 16,800 12/31/21 27,600 What is the accrual-based net income of Birch in 2020 and 2021, respectively?