only answer C

Exercise 4-11 on January 1, 2017, Plutonium Corporation acquired 80% of the outstanding stock of Sulfurst Inc. for $248,500 cash. The following balance sheet shows Sulfurst Inc.'s book values immediately prior to acquisition, as well as the appraised values of its assets and liabilities by Plutonium's experts. Sulfurst Inc.'s Sulfurst Inc.'s Book Values Market Values $88,600 Current assets $88,600 Property, plant & equipment: Land 85,400 105,300 Building & machinery (net) 182,300 182,300 Total assets $356,300 Total liabilities $93,600 $93,600 Common stock, $5 par value 97,500 Additional paid-in-capital 19,100 Retained earnings 146,100 $356,300 Total liabilities and equities (a) CALCULATOR PRINTER TUur dl Swer is CoIrect ESOURCES ation on (Fall Prepare a Computation and Alocation Schedule for the Difference between Book Value and the Value Implied by the Purchase Price. Non- Parent Controlling Share Entire Value 1 Share Purchase Price and Implied Value 248500 62125 310625 Less Book Value of Equity Acquired its by Study 210160 52540 262700 Difference Between Implied and Book Value 38340 9585 47925 Land 3980 15920 19900 Balance 22420 28025 5605 Goodwill 22420 5605 28025 Balance 0 SHOW LIST OF ACCOUUNTS CALCULATOR PRINTER VER (b) Your answer is correct. Prepare the entry to be made on the books of Plutonium Corporation to record its investment in Sulfurst Inc. Assume that during the first two years after acquisition of Sulfurst Inc., Sulfurst reports the following changes in its retained earnings: Retained earnings, January 1, 2017 $146,100 Net income, 2017 39,900 Less: dividends, 2017 (22,100) Net income, 2018 45,000 Less: dividends, 2018 (23,200) Retained earnings, December 31, 2018 $185,700 (Credit account titles are automatically indented when amount is entered. Do not indent manually If no entry is required, select "No Entr- account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Investment in Subsidiary 248500 Cash 248500 (c) Prepare journal entries under each of the following methods to record the information above on the books of Plutonium Corporation for the years 2017 and 2018, assuming that all depreciable assets have a remaining life of 20 years. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) Plutonium uses the cost method to account for its investment in Sulfurst Date Account Titles and Explanation Debit Credit 2017 2018 CALCULA SOURCES (2) Plutonium uses the partial equity method to account for its investment in Sulfurst. ion (Fall Date Account Titles and Explanation Debit Credit 2017 (To record equity income (loss)) s by Study (To record dividend income) 2018 (To record equity income (loss) (To record dividend income) SOURCES (3) Plutonium uses the complete equity method to account for its investment in Sulfurst. tion (Fall Date Account Titles and Explanation Debit Credit 2017 (To record equity income (loss)) s by Study (To record dividend income) 2018 (To record equity income (loss) (To record dividend income) 25108