On January 1, 2020, Travers Company acqutred 90 percent of Yarrow Company's outstanding stock for $918,000. The 10 percent noncontrolling interest had an assessed falr value of $102,000 on that date. Any acquisition-date excess fafr value over book value was atubuted to an unrecorded customer last developed by Yarrow with a remaining ife of 15 years. On the same date, Yarrow acquired an 80 percent interest in Stookey Company for $520.000 At the acqursition date, the 20 percent noncontroling interest fair value was $130,000. Any excess fair value was attibuted to a fuly amortized copynght that hod a remaining Ife of 10 years. Although both investments are accounted for using the initial volue method, neither Yarrow nor Stookey hos distributed dividends since the acqusition date. Travers has a policy to declare and pay cash dividends each year equal to 40 percent of its separate company operating earnings. Reported income totals for 2020 follow The following are the 2021 financial statements for these three componles (credt balancel indicated by parentheses) Stookey has uansferred numerous amounts of inventory to Yarrow since the takeover amounting to $124,000(2020) and $155.000(2021) These transactions include the same markup applicable to Stookey's outside sales. In each year, Yartow carned 20 percent of this inventory into the succeeding year before disposing of it. An effective tax rate of 21 percent is applicable to all companles. Ali dividend declaravons are paid in the same penod 6. Prepare the businest combinotioris 2024 consoliostion warkeheet ignore income iax effects. b. Determine the amount of income Hax for Travets and Yorgw on o consolidoted tox retum for 2021 c. Determine the omount of Stookeys income tox on a sepalote tas retum for 2021. TRAVERS COMPANY AND CONSOLIDATED SUBSIOIARIES Consolidation Worksheet For Year Finding December 21, 2021 Req B and C ? Into the succeeding year before disposing of it. An effective tax rate of 21 percent is applicable to all companles. All dividend declarations are pald in the same period. a. Prepare the business combination's 2021 consolidation worksheetignore income tax effects b. Determine the amount of income tax for Travers and Yartow on a consolidated tax retum for2021 c. Detemine the amount of Stookeys income tax on a separate tax return for 2021 d. Based on the anowers to requirements (c) and (c), what joumol entry does this combinonon make to record 20z1 income tax? Conplete this auestion by entering your answers in the tabs befow, Prepare the business combination's 2021 consolidation worksheet, ignore income tax effects. o. Determine the amount of income tax for Travers and Yarrow on a consolidated tax return for 2021. c. Determine the amount of Stookey's income tax on a separate tax return for 2021 d. Based on the answers to requirements (b) and (c), what journal entry does this combination make to record 2021 income tax? Complete this question by entering your ansvers in the tabs below. Based on the answiers to requirements {b} and (c), what journal entry does this combination make to record 2021 income tax? (IF no entry is, requirad for a transaction/event, select "No journal entry requited" in the first account field. Round your intermediate and final inaver to the nearest vihele dollar.) Journal entry worksheet Record the incoma tax payable. Notet Entec cebits belark credits