Paf Corporation paid$182,000 for a 80% interest in Saf Co.'s outstanding Capital Stock on January 1, 2018, when Saf stockholders' equity consisted of $140,000 of Capital Stock and $50,000 of Retained Earnings. The excess of investment cost was assigned to overvalued inventory by $10,000 (sold in 2018), undervalued equipment by $50,000 (10-years remaining useful life), and overvalued building by $30,000 (20-years remaining useful life). Other information - During 2018, Saf announced net income of $80,000, and paid dividends of $60,000 - Separate income statements for Paf and Saf for the year 2018 show the Cost of Goods Sold for the 2 companies by the amount of $210,000 and $90,000 respectively. - Separate income statements for Paf and Saf for the year 2018 show Depreciation Expense for the 2 companies by the amount of $80,000 and $60,000 respectively. - Both separate balance sheets for Paf and Saf as of 31/12/2018 show balance of equipment by $140,000 and 80,000 respectively.

question 1

Calculate the balance of equipment that will appear in the Consolidated Balance Sheet as of 31/12/2018

question 2

Calculate the balance of the Investment Account that will appear in the Consolidated Balance Sheet as of 31/12/2018.

q3 Calculate the balance of Cost of Goods Sold that will appear in the Consolidated Income Statement for 2018.

q4 Calculate the depreciation expense that will appear in the consolidated Income Statement for 2018.

q5 Calculate the total retained earnings that will appear in Safs separate Balance Sheet as of 31/12//2018.

q6 Calculate the Non-Controlling Interest Share in Income that will appear in the Consolidated Income Statement for 2018.