On January 1, Year 1, Entity A acquired 70 % of Entity B's voting interests for $87,500. The carrving amount of Entity B s assets and liabilities on that date equals their fair values. The noncontrolling interest (NC) is measured at its fair value of $37,500. Entity A and Entity B use the same accounting principles, and no consolidating adjustments need to be made for intraentity transactions, etc., except as described below. The trial balances on December 31, Year 1, of Entity A and Entity B before consolidation are presented below. Entity A $ 79,000 27,000 Entity B $ 125,000 35,000 61,000 Account Cash Trade receivables 33,000 Inventories 24,000 Current investments 50,000 106,000 PPE (net) 100,000 Investment in Entity B (55,000) (62,000) (27,000) (43,000) (90,000) (33,000) Trade payables Liability for employee benefits Noncurrent loans payable Common stock (40,000) (21,000) (78,000) (120,000) 61,000 Additional paid-in capital (37,000) Retained earnings January 1, Year 1 (55,000) (150,000) Net sales Cost of sales 50,000 General and administrative expenses 17,000 8,000 4,000 6,000 (28,000) Interest expense Dividend income received from Entity B 6,000 7,000 Income tax expense 40,000 Dividends declared and paid Additional information: In its separate financial statements, Entity A accounts for its investment in the subsidiary (Entity B) according to the cost model [we call it Initial Value Method ]. Thus, dividends from the subsidiary are recognized as income. During Year 1, Entity B distributed a cash dividend of $40,000. On December 31, Year 1, Entity A sold on credit an inventory item with a cost of $20,000 to Entity B for $27,000 This item is in Entity B's inventory at year end. Note: To simplify the simulation, items of other comprehensive income are not included. Enter the amount of each line item in the year-end consolidated balance sheet in the shaded cells below. Indicate negative numbers by using a leading minus (-) sign. 1. Trade receivables [2 points] 2. Trade payables [1 point] 3. Inventories [4 points] 4. Equity attributable to the parent [10 points] 5. Noncontrolling interest [3 points]