On January 1, 2020, P company acquires 90 percent of the outstaniding common stock of S company, in exchange for $1,710,000 cash. At the acquisition date, S company's total fair value, including the noncontrolling interest, was assessed at $1,900,000. Also at the acquisition date, S company's book value was $725,000.(common stock 400,000, additional paid-in capital 60,000, retained earnings 265,000) P company observed that S company had developed internally a customer base with an assed fair value of $800,000 that was not reflected on S company's books. The remaining useful life of cutomer base is ten years. Book value Fair value Customer base 0 800000 For internal reporting purposes, P company employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2020, for both companies. At year-end, there were no intra-entity receivables or payables. P company S company Revenues ($120,000) ($120,000) Cost of goods sold 40,000 40,000 Depreciation expense Amortization expense Equity in income of Gardena ($121,500) 0 Net income ($437,000) ($215,000) Retained earnings (1/1/2020) ($330,000) ($265,000) Net income ($437,000) ($215,000) Dividends declared 350,000 25,000 Retained earnings (12/31/2020) Current assets Investment in S company 1,854,000 0 Trademark Property and equipment (net) Patents Total assets Accounts payable Common stock ($900,000) ($400,000) Additional paid-in capital ($300,000) ($60,000) Retained earnings (12/31/2020) Total liabilities and equities 1. What is the goodwill of Gardena at acquisition? Your answer: fair value of sub-book value of sub- undervalued FV of customer base 2.What is the amount of Non-Controlling Interest at acquisition (1/1/2020)? Your answer: 3. The consolidation JE D to eliminate any dividend earned from Subsidiary during 2020 (consolidation JE D) Your answer: Dr. Cr. 4. The consolidation JE S to eliminate subsidiary's stockholders' equity at December 31, 2020 (consolidation JE S) Your answer: Dr. Cr. 5. What is the consolidated balance for investment at December 31, 2020? Your answer: