On January 1, 2020, Mcllroy, Inc, acquired a 60 percent interest in the common stock of Stinson, Inc, for $340,200. Stinson's book value on that date consisted of common stock of $100,000 and retained eamings of $201100. Also, the acquisition-date fair value of the 40 percent noncontrolling interest was $226,800. The subsidiary held patents (with a 10 -yeat remaining life) that were undervalued within the company's accounting records by $76,900 and an unrecorded customer ist (15-year remaining life) assessed at a $52,800 fair value. Any remaining excess acquisition-date fair value was assigned to goodwill Since acquisition. Mclloy has appiled 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 folows. The individual financial statements for these two companies as of December 3t. 202t, and the year then ended follow (Note, Parentheses indicate a creoit balance) a. Show how Mcilroy determined the $394,533 investment in Stinson accourt balance Assume that Mcliroy defers 100 percent of downstream intro-entity profits against its share of Stinson's income. b. Prepare a consolidated worksheet to determine appropriate balances for external financhal reponting as of December 31,2021. Complete this question by entering your answers in the tabs below. Show how Mctiroy determined the 1794,533 Imentment in 5 tinson accoune talance Assime that Malloy defers 100 percent minies sigo.)