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The following are selected accounts and balances for Mergaronite Company and Hill, Inc., as of December 31, 2021. Several of Mergaronite's accounts have been omitted. Credit balances are indicated by parentheses. Dividends were declared and paid in the same period. Mergaronite Hill Revenues $ (614,000) $(252,000) Cost of goods sold 274,000 96,000 Depreciation expense 106,000 56,000 Investment income NA NA Retained earnings, 1/1/21 (886,000) (610,000) Dividends declared 138,000 40,000 Current assets 204,000 668,000 Land 314,000 100,000 Buildings (net) 514,000 138,000 Equipment (net) 196,000 258,000 Liabilities (396,000) (316,000) Common stock (300,000) (36,000) Additional paid-in capital 7__________________________________________ (40,000) (914,000) Assume that Mergaronite acquired Hill on January 1, 2017, by issuing 6,800 shares of common stock having a par value of $10 per share but a fair value of $100 each. On January 1, 2017, Hill's land was undervalued by $18,600, its buildings were overvalued by $31,200, and equipment was undervalued by $58,200. The buildings had a 10-year remaining life; the equipment had a 5-year remaining life. A customer list with an appraised value of $94,000 was developed internally by Hill and was estimated to have a 20-year remaining useful life. 3. Determine the December 31, 2021, consolidated totals for the following accounts: b. In requirement (a), can the consolidated totals be determined without knowing which method the parent used to account for the subsidiary? c. If the parent uses the equity method, what consolidation entries would be used on a 2021 worksheet? JLIE ______________________ E If the parent uses the equity method, what consolidation entries would be used on a 2021 worksheet? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1 S Common stock Additional paid-in capital Retained earnings Investment in Hill 2 A Land Equipment (net) Customer list (net) Buildings (net) Investment in Hill 3 l Investment income Investment in Hill 4 D Investment in Hill Dividends declared 5 E Amortization expense Depreciation expense Buildings (net) Customer list (net) Equipment (net) \fComplete this question by entering your answers in the tabs below. Required B Required C Required A Revenues Cost of goods sold 866.0000 370.0000 Depreciation expense Amortization expense 170.5200 4,7000 Buildings Equipment 636.4000 454.0000 Customer list Common stock 70.5000 300.0000 Additional paid-in capital 40.0000