On January 1, Year 1, Popa Inc. acquired 100% of the outstanding common shares of Montreal Ltd. for a total cost of $6,700. Coincidently, the carrying amounts of Montreal's assets and liabilities were equal to their fair values on this date. The year 1 financial statements for Popa and Montreal were as follows: Additional Information - Popa uses the equity method to account for its investment in Montreal. - Montreal paid dividends of $500 in Year 1. Required: (a) Prepare consolidated financial statements for Year 1. (Input all values as positive numbers. Leave no cells blank - be certain to enter " 0 " wherever required.) (a) Prepare consolidated financial statements for Year 1. (Input all values as positive numbers. Leave no cells blank - be certain to enter " O " wherever required.)