On January 1, 2020, Mcllroy, Inc., acquired a 60 percent interest in the common stock of Stinson, Inc., for $346,200. Stinson's book value on that date consisted of common stock of $100,000 and retained earnings of $204,600. Also, the acquisition-date fair value of the 40 percent noncontrolling interest was $230,800. The subsidiary held patents (with a 10 -year remaining life) that were undervalued within the company's accounting records by $79,900 and an unrecorded customer list (15-year remaining life) assessed at a $55,800 fair value. Any remaining excess acquisition-date fair value was assigned to goodwill. Since acquisition, Mcllroy has applied the equity method to its Investment in Stinson account and no goodwill impairment has occurred. At year-end, there are no intra-entity payables or receivables. Intra-entity inventory sales between the two companies have been made as follows: The individual financial statements for these two companies as of December 31,2021 , and the year then ended follow. The individual financial statements for these two companies as of December 31, 2021, and the year then ended follow (Note: Parentheses indicate a credit balance) e. Show how Mcllroy determined the $398,828 Investment in Stinson account balance. Assume that Mcllroy defers 100 percent of downstream intra-entity profits against its share of Stinson's income. b. Prepare a consolidated worksheet to determine appropriate balances for external financial reporting as of December 31,2021. Show how McIlroy determined the $398,828 Investment in Stinson account balance. Assume that McIlroy defers 100 p of downstream intra-entity profits against its share of Stinson's income. (Amounts to be deducted should be indicated minus sign.)