On January $1,$ Year $5,$ Pic Company acquired $7,500$ ordinary shares of Sic Company for $$600,000.$ On January $1,$ Year $6,$ Pic

Company acquired an additional $2,000$ ordinary shares of Sic Company for $$210,000.$ 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 $7.$ 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.$)$

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

S

$($iii$)$ Retained earnings