On January 1, 2019. Aspen Company acquired 80 percent of Birch Company's voting stock for $520,000. Birch reported a $530,000 book value, and the fair value of the noncontrolling Interest was $130,000 on that date. Then, on January 1, 2020. Birch acquired 80 percent of Cedar Company for $152,000 when Cedar had a $127.000 book value and the 20 percent noncontrolling Interest was valued at $38,000. In each acquisition, the subsidiary's excess acquisition date falr 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. 2019 2828 2021 $ 520,880 $ 577,588 $ 820,eee 238,250 352,750 572,400 Not available 170,000 299,800 Sales: Aspen Company Birch Company Cedar Company Expenses: Aspen Company Birch Company Cedar Company Dividends declared: Aspen Company Birch Company Cedar Company $ 447,5ee $ 427,500 $ 645, eee 181,880 271,888 490,eee Not available 154,800 268,000 $ 10,800 $ 40,000 $ 50.eee 5,620 15,888 15,eee Not available 2,800 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? What is the consolidated net Income for this business combination for 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 12/31/19 12/31/20 12/31/21 Anount $15,9ee 19,100 26,200 What is the accrual-based net income of Birch in 2020 and 2021, respectively? Req AtoC Reg D 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? Show less a. Amount 617,698 2021 Investment in Birch at December 31, 2020 Consolidated net income Noncontrolling interests' share of the consolidated net income b. c. Donn