only do part A #9

Prime Corporation acquired 100 percent ownership of Steak Products Company on January 1,201, for $300,000. On that date, Steak reported retained earnings of $90,000 and had $120,000 of common stock outstanding. Prime has used the equity-method In accounting for its investment in Steak. The trlal balances for the two companles on December 31,205, appear below: 4ucitional informetlon: 1. On the date of combination (five years ago), the fair value of Steak's depreclable assets was $90,000 more than the book value. Accumulated depreclation at that date was $10,000. The differential assigned to depreclable assets should be written off over the following 10 -year perlod. 2. There was $30,000 of Intercorporate recelvables and payables at the end of 205. Required: a. Prepare all journal entrles that Prime recorded during 205 related to its Investment in Steak. b. Prepare all consolidating entries needed to prepare consolldated statements for 205. Complete this question by entering your answers in the tabs below. Prepare all journal entries that Prime recorded during 205 related to its investment in Steak. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. A Record Prime Corporation's share of Steak Products' 205 income. B Record Prime Corporation's 100% share of Steak Products' 205 dividend. c Record the amortization of the excess acquisition price. Note : = journal entry has been entered