Please answer parts A and B please.

On January $1,2020,$ Corgan Company acquired $70$ percent of the outstanding voting stock of Smashing, Inc., for a total of $$1,120,000$ in cash and other consideration. At the acquisition date, Smashing had common stock of $$830,000,$ retained earnings of $$380,000,$ and a noncontrolling interest fair value of $$480,000.$ Corgan attributed the excess of fair value over Smashing's book value to various covenants with a $20-$year remaining life. Corgan uses the equity method to account for its investment in Smashing.

During the next two years, Smashing reported the following:

$\backslash$table$[[,$Net Income,$\backslash$table$[[$Dividends$],[$Declared$]],\backslash$table$[[$Inventory$],[$Purchases$],[$from Corgan$]]],[2020,$$$280,000,$$$48,000,$$$230,000$