Peel Corporation purchased $60$ percent of Split Products Company's shares on December $31,20$X$7,$ for $$216,000.$ At that date, the fair value of the noncontrolling interest was $$144,000.$ On January $1,209,$ Peel purchased an additional $20$ percent of Split's common stock for $$100,000.$ Summarized balance sheets for Spllt on the dates Indlcated are as follows:

Split paid dividends of $$21,000$ in each of the three years. Peel uses the equity method in accounting for Its Investment ir $ plit and amortizes all differentials over $10$ years against the related investment Income. All differentials are assigned to patents in the consolidated financial statements.

Required:

a$.$ Compute the balance in Peel's Investment in Split Products Company Stock account on December $31,208.$

b$.$ Compute the balance in Peel's Investment in Split Products Company Stock account on December $31,209.$

c$.$ Prepare the consolidation entries needed as of December $31,20$X$9,$ to complete a worksheet.

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Prepare the consolidation entries needed as of December $31,209,$ to complete a worksheet.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

$\backslash$table$[[$No$,$Event,Accounts,,Debit,Credit$],[$A$,1,$Common stock,$0,$Ex$,],[,$Retained eamings,Q$,,],[$E$,$Investment in Split Products Company,$8,,],[,,,,,],[$B$,2,$Investment in Split Products Company,$8,7,200ox,],[,$Amortization expense,$ox,,7,200$