Parkovash, Incorporated, obtained 100 percent of Salerno Company's common stock on January 1, 2023, by issuing 11,400 shares of 10 par value common stock. Parkovash's shares had a $15 per share fair value. On that date, Salerno reported a net book value of 132,750. However, its equipment (with a 5-year remaining life) was undervalued by $5,750 in the company's accounting records. Also, alerno had developed computer software with an assessed value of $32,500, although no value had been recorded on Salerno's books. The computer software had an estimated remaining useful life of 10 years. he following balances come from the individual accounting records of these two companies as of December 31, 2023: Items Parkovash Salerno Revenues $ (642,000) $ (359,000) Expenses 474,000 189, 000 Investment income Not given 0 Dividends declared 80,000 80,000 he following balances come from the individual accounting records of these two companies as of December 31, 2024: Items Parkovash Salerno Revenues $ (763,000) $(412,000) Expenses 498,200 222,300 Investment income Not given 0 Dividends declared 90,000 60,000 Equipment 515,000 379,000 equired: a. What balance does Parkovash's Investment in Salerno account show on December 31, 2024, when the equity method is applied? b. What is the consolidated net income for the year ending December 31, 20247 c-1. What is the consolidated equipment balance as of December 31, 20247 c-2. Would this answer be affected by the investment method applied by the parent? d. Prepare entry *C for the beginning of the Retained Earnings account on a December 31, 2024 by using initial value, partial equity and equity method. Complete this question by entering your answers in the tabs below. Reqg A to C2 Req D a. What balance does Parkovash's Investment in Salerno account show on December 31, 2024, when the equity method is applied? b. What is the consolidated net income for the year ending December 31, 2024? c-1. What is the consolidated equipment balance as of December 31, 2024? c-2. Would this answer be affected by the investment method applied by the parent? Show less A a. Investment in Salerno account b. Consolidated net income c-1. Consolidated equipment c-2. Would this answer be affected by the investment method applied by the parent? ReqD > Req A to C2 Req D Prepare entry *C for the beginning of the Retained Earnings account on a December 31, 2024 by using initial value, partial equity method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. view transaction list Consolidation Worksheet Entries Prepare entry *C if the parent used the initial value method. Note: Enter debits before credits. December 31, 2024 { ReqAtoC2 view transaction list Consolidation Worksheet Entries Prepare entry *C if the parent used the partial equity method. Note: Enter debits before credits. December 31, 2024 { ReqAtoC2 Consolidation Worksheet Entries Prepare entry *C if the parent used the equity method. Note: Enter debits before credits. December 31, 2024