Please do journal entries and the Small under equity method

Large Ltd. purchased 75% of Small Company on January 1. Year 6, for $615.000. when the statement of financial position for Small showed common shares of $450.000 and retained earnings of $150,000. On that date the Inventory of Small was undervalued by $45.000, and a patent with an estimated remaining life of five years was overvalued by $68.000. Small reported the following subsequent to January 1, Year 6: Year 6 Year 7 Year 8 Profit (Loss) $180, eee (40,eee) 95, eee Dividends $38,888 15,000 45,000 A test for goodwill impairment on December 31. Year 8. Indicated a loss of $19.800 should be reported for Year 8 on the consolidated Income statement. Large uses the cost method to account for its Investment in Small and reported the following for Year 8 for its separate-entity statement of changes in equity Retained earnings, beginning Profit Dividends Retained earnings, end $ 55e,eee 25e,eee (65,600) $ 735,000 (O Prepare Large's journal entries for each year related to its Investment in Small. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) Year 6 View transaction Mat View journal entry worksheet X Credit Debit 130,000 130,000 To record the purchase of 75% of Small Company. 75,000 To record 75% of Small Company year 6 net income. 75,000 To record 75% of the dividend received from Small Company 22.500 22,500 To record 75% of acquisition differential amortization and impairment of year 6. 220,000 220,000 Note : = joumal entry has been entered Year 7 View transaction Mist View journal entry worksheet Credit Debit 40.000 40.000 To record 75% of Small Company year 7 net loss. 11,250 To record 75% of the dividend received from Small Company, 11,250 To record 75% of acquisition differential amortization and impairment of year 7. 13,600 13,600 Note : = journal entry has been entered Year 8 View transaction et x To record 75% of Small Company year 8 net income. To record 75% of the dividend received from Small Company. . To record 75% of acquisition differential amortization and impairment of year 8. Credit 95,000 Note : = journal entry has been entered Record entry Clear entry View general Journal (11) Determine the Investment In Small at December 31, Year 8. (Omit $ sign in your response.) Investment In Small under equlty method $243000