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On January 1 , Year 5 , Pic Company acquired 7 , 5 0 0 ordinary shares of Sic Company for $ 8 4 7

On January 1, Year 5, Pic Company acquired 7,500 ordinary shares of Sic Company for $847,500. On January 1, Year 6, Pic Company
acquired an additional 2,000 ordinary shares of Sic Company for $222,000. On January 1, Year 5, the shareholders' equity of Sic was
as follows:
The following are the statements of retained earnings for the two companies for Years 5 and 6:
Additional Information
Pic uses the cost method to account for its investment in Sic.
Any acquisition differential is allocated to customer contracts, which are expected to provide future benefits until December 31, Year
Neither company has any customer contracts recorded on their separate-entity records.
There were no unrealized profits from intercompany transactions since the date of acquisition.
Required:
(a) Calculate consolidated profit attributable to Pic's shareholders for Year 6.(Omit $ sign in your response.)
Required:
(a) Calculate consolidated profit attributable to Pic's shareholders for Year 6.(Omit $ sign in your response.)
Consolidated profit attributable to Pic's shareholders
(b) Calculate the following account balances for the consolidated statement of financial position at December 31, Year 6: (Omit $ sign
in your response.)
(i) Customer contracts
(ii) Non-controlling interest
(iii) Retained earnings
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