Paramount Corporation acquired its 75 percent investment in Sun Corporation in January 2015. for $2.910.000, and accounts for its investment internally using the complete equity method. At the acquisition date, total book value of Sun was $1,500,000, including $800,000 of retained earnings, and the estimated fair value of the 25 percent noncontrolling interest was 5790,000. The far values of Sun's assets and liabilities were equal to their carrying values, except for the following items Fair value less Book value Accounts recevable entory Equipment (10 years, straight-line) Patents (5 years, straight line) Deferred tax tables (cromed as a result of the nortable acquisition 100,0001 1125.000 (400.000 200.000 The receivables were collected and the inventory sold during the first three years following the acquisition, Deferred tax abities of $60.000 were reversed during 2015-2020. An impairment test made at the end of 2020 indicates a remaining value of $2.000,000 for the goodwill recognized as a result of the acquisition. Surt's shareholders equity is $2.500,000, including $1.800.000 of retained earnings. at the end of 2020 For all answers below Enter answers using all zeros, do not abbreviate to thousands or millions Required al Calculate the amount of goodwill initially recognized as a result of the acquisition and its allocation to the controlling and noncontrollig interests: Allocation of goodwill Goodwill Paramount share of Non controlling were's the food (b) Calculate the balance in the investment account, carried on Paramounts books, and the value of the noncontrolling interest reported in the equity section of the consolidated balance sheets of the end of 2020 Balances as of 2030 year end Investment in son Nontontrolling interest 1) Assume eliminating entry to reverse Paramounts equity method entries for 2021, I been made. Prepare 2021 cimenting test and to adjust Sun's assets to the correct values as of the beginning of 2021. eliminate the remainder of the westment and recognize the beginning of 2021 w of the non controlling interest Consolidation Journal DANE Credit