On January 1, 2021 Payne Company purchased a 75% interest in Salmon Company for $585,000. A summary of Salmon Company's balance sheet on that date revealed the following: Book Value Fair Value Equipment.net 525,000 705,000 Other Assets 150,000 150,000 Total 675,000 855,000 Liabilities 75,000 Common Stock 225,000 Retained Earnings 375,000 Total 675,000 The equipment had an original life of 15 years and a remaining useful life of 10 years. Required: For the year December 31, 2021 consolidated statements workpaper, prepare the workpaper entry to allocate and depreciate the difference between book value and value implied by the purchase price assuming: a. Equipment is presented net of accumulated depreciation b. Accumulated depreciation is presented on a separate row in the workpaper and in the consolidated statement of financial position. Entire Parent NCI Value Purchase price and Implied value Less Book Value of Equity Acquired: Capital Stock/Retained Earnings Difference between Implied and Book