Pierre corporation acquired 75% of Selene Corporation common stock for $20,100,000 paid in cash on January 2, 2017. The estimated fair value of the noncontrolling interest was $5,900,000. Selene's book value at the date of acquisition was $10,000,000, and its identifiable net assets were fairly stated except for previously unreported completed technology, valued at $4,000,000, with a remaining life of 5 years, straight-line. It is now December 31, 2020, and you are preparing consolidated financial statements for Pierre and Selene. Following is information on intercompany transactions:

1. On January 2, 2018, Pierre sold equipment to Selene for $6 million and recorded a gain of $2 million. The equipment had a remaining life of 10 years at that time.
2. Selene supplies Pierre with component parts for its products, at amarkup of 20% on cost. During 2020, Selene made sales totaling $20 million to Pierre. Pierre had parts purchased for $1.8 million and $4 million in its 2020 beginning and ending inventory balances, respectively (Hint: $1.8 million is the unsold inventory from last year and $4 million is the unsold inventory of this year).
3. Pierre sells materials to Selene for use in its manufacturing processes, with a20% gross profit ratio. During 2020, Pierre made sales totaling $15 million to Selene. Selene had materials purchased for $3 million and $2.8 million in its 2020 beginning and ending inventory balances, respectively. (Hint: $3 million is the unsold inventory from last year and $2.8 million is the unsold inventory of this year).

Goodwill arising from this acquisition was impaired by a total of $3 million during the years 2017-2019, and no further goodwill impairment occurred in 2020. The separate December 31, 2020 trial balances of Pierre and Selene appear below,beforePierre's end-year adjustment to record its equity in Selene's income for 2020.

Balance Sheet at December 31, 2020 (in thousands)

Pierre

Selene

Cash

1,000

2,500

A/R, net

5,600

10,000

Inventories

70,000

30,000

Plant and Equipment, net

460,000

150,000

Investment in Selene

20,225

Total Assets

556,825

192,500

Current Liabilities

4,000

2,800

Long-term debt

489,825

163,700

Capital Stocks

5,000

2,000

Retained earnings, January 1

90,000

20,000

Dividend

(40,000)

(3,000)

Net Income

8,000

7,000

Total equities

556,825

192,500

Income Statement 2020 (in thousands)

Pierre

Selene

Sales

150,000

50,000

Cost of Sales

(100,000)

(35,000)

Other Expenses

(42,000)

(8,000)

Income from Selene

Net Income

8,000

7,000

1. Determine the Goodwill assigned to Non-controlling interest at the acquisition date.
2. Determine the balance for the account "Investment in Selene" at December 31, 2020afterPierre's end-year adjustment to record its equity in Selene's income for 2020 (Hint: Dividend adjustment is already included in the balance of investment). Show your calculations
3. Determine the balance of the account "Equity in Selene's Income" for the year 2020. Show your calculations
4. Calculate the balance of NCI at December 31, 2020. Provide detail calculations of the three components of this balance
5. Prepare consolidation adjustment entries
6. Prepare a consolidated worksheet for Pierre Inc. and its subsidiary Selene as of December 31, 2020.