On the date of acquisition, Air reported retained earnings of $$230,000$ and a total book value of $$360,000.$

At the time, its royalty agreements were undervalued by $$60,000.$ This intangible was assumed to have a $6$ year remaining life with no residual value.

Additionally, Air owned a trademark with a fair value of $$50,000$ and a $10$ year remaining life that was not reflected in its books.

Air declared and paid dividends in the same period.

Required $($Use the "Template for Response" tab to answer the questions$)$:

a$.$ Using the preceding information, prepare a consolidated worksheet for these two companies as of December $31,2021.$

b$.$ Instead of the initial value method, assume now that Mix applies the equity method to its Investment in Air account. What

account balances would the parent's individual financial statements then show for the Equity in Subsidiary Earnings, Retained

Earnings, and Investment in Air accounts?

c$.$ Assuming that Mix applied the equity method to its investment, how would the consolidated entries differ on December $31,2021$ worksheet?

d$.$ Assuming that Mix applied the equity method to this investment, how would the December $31,2021,$ reported consolidated balances differ?

PLEASE HELP ME IN PARTICULAR WITH PARTS C AND D$.$ THANK YOU!!!