Pea Company purchased 70 percent of Split Company's stock approximately 20 years ago. On December 31, 20x8, Pea purchased a building from Split for $372,000. Split had purchased the building on January 1, 20x1, at a cost of $472,000 and used straight-line depreciation on an expected life of 20 years. The asset's total estimated economic life is unchanged as a result of the intercompany sale. Required a. What amount of depreciation expense on the building will Pea report for 20x9? Annual depreciation expense reported by Pea $ 31,000 b. What amount of depreciation expense would Split have reported for 20x9 if it had continued to own the building? Annual depreciation expense reported by Split $ 23,600 Pea Company purchased 70 percent of Split Company's stock approximately 20 years ago. On December 31, 20X8, Pea purchased a building from Split for $372,000. Split had purchased the building on January 1, 20X1, at a cost of $472,000 and used straight-line depreciation on an expected life of 20 years. The asset's total estimated economic life is unchanged as a result of the intercompany sale. c. Prepare the consolidation entry or entries needed to eliminate the effects of the intercompany building transfer in preparing a full set of consolidated financial statements at December 31, 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Event Debit Credit 1 Accounts Investment in Split Company NCI in NA of Split Company Building Accumulated depreciation 100,000 OOOOOO B 2 7,400 Accumulated depreciation Depreciation expense 7,400 d. What amount of income will be assigned to the noncontrolling interest in the consolidated income statement for 20x9 if Split reports net income of $25,000 for 20x9? % Answer is not complete. Income assigned to noncontrolling interest e. Split reports assets with a book value of $320,000 and liabilities of $130,000 at January 1, 20X9, and reports net income of $25,000 and dividends of $10,000 for 20X9. What amount will be assigned to the noncontrolling interest in the consolidated balance sheet at December 31, 20X9, assuming the fair value of the noncontrolling interest at the date of acquisition was equal to 30 percent of Split Company's book value? Amount assigned to noncontrolling interest