PL paid $200,000 of dividends and SI paid $30,000 in 2022. Required: Part A (20 marks) Your junior accountant has done many of the required consolidation entries but was unsure of a few so has asked for your assistance to make the following entries if required. 1. (10 marks) The consolidation entry(ies) for 2022 related to the amortizations for a. Trademark b. Fixed assets 2. The entry to record the NCI's share of 2022 net income and dividends. (5 marks) 3. Any entry required to adjust opening consolidated retained earnings in 2022 to agree to ending consolidated retained earnings 2021. (Ignore any amortization entries). (5 marks) Part B (30 marks) You are now prepared to do the 2022 consolidation journal entries for the intercompany sale of inventory. Both Petunia Limited and Snapdragon Inc. have a 20% tax rate for all prior years and 2022. You have been asked to prepare 2022 consolidation entries for the following three transactions. 1. In 2021, Sl sold inventory to PL for a price of $30,000. The inventory cost SI $18,000. At the end of 2021, 50% of the inventory had been sold outside while the remaining 50% was reported on PL's balance sheet in the amount of $30,000. In 2022, PL sold 80% of the inventory that remained at the end of 2021 to outside parties. The remaining inventory was still on the the financial statements of PL as inventory at the end of 2022. (13 marks) 2. In 2022, PL sold inventory down to SI for $94,000. The sale was priced to ensure a gross profit of 35% of the sale price. In 2022, SI sold $24,000 of inventory outside and the remaining $74,000 remained on the balance sheet of SI at December 31, 2022. (12 marks) 3. In 2022 SI sold inventory to PL at a price of $50,000. The sale price was 50% above cost. The entire amount was sold outside the consolidated group during the 2022 fiscal year. (5 marks) Part C (30 marks) On January 1, 2017, SI purchased a piece of equipment for $100,000. At the time of purchase the estimated useful life of the equipment was 25 years and SI depreciated the equipment using straight line depreciation. On January 1, 2020, SI sold the equipment to PL for $220,000. PL also uses straight line depreciation and carried on with the estimated useful life determined by SI. I. The junior on the job just cannot seem to figure out what entry to make on consolidation for the 2022 fiscal year. You have spent a lot of time studying this and you know what entry to make so you tell your junior that you will do the 2022 entry. (23 marks) II. The President of PL is considering selling the equipment next year (2023). The company's policy is not to record depreciation in the year of sale of any operational assets. He is wondering what the gain or loss would be on the 2023 consolidated income statement if the equipment was sold outside for $200,000. YOU ARE NOT REQUIRED TO MAKE JOURNAL ENTRIES - JUST CALCULATE THE AMOUNT. (7 marks)