Parent uses the cost method. The following balances are known:

1/1/x1 Investment in Sub $8

1/1/x1 Retained Earnings (Parent) $400

1/1/x1 Retained Earnings (Sub) $180

x1 Sub's Earnings $115

x1 Sub's Dividends Declared and Paid $61

Creating and Consolidating 100%-owned Subs