please help me with the right answers.

Preparing a consolidated income statement-Equity method with noncontrolling interest, AAP and upstream and downstream intercompany inventory profits A parent company purchased a 70% controlling interest in its subsidiary several years ago. The aggregate fair value of the controlling and noncontrolling interest was $1,225,000 in excess of the subsidiary's Stockholders' Equity on the acquisition date. This excess was assigned to a building that was estimated to be undervalued by $700,000 and to an unrecorded patent valued at $525,000. The building asset is being depreciated over a 20-year period and the patent is being amortized over an 10-year period, both on the straight-line basis with no salvage value. During the current year, the parent and subsidiary reported a total of $2,100,000 of intercompany sales. At the beginning of the current year, there were $140,000 of upstream intercompany profits in the parent's inventory. At the end of the current year, there were $210,000 of downstream intercompany profits in the subsidiary's inventory. During the current year, the subsidiary declared and paid $280,000 of dividends. The parent company uses the equity method of pre-consolidation investment bookkeeping. Each company reports the following income statement for the current year: Parent Subsidiary Income statement: Sales $10,000,000 $3,500,000 Cost of goods sold (6,800,000) (2,100,000) Gross profit 3.200,000 1,400,000 Income (loss) from subsidiary 145,250 Operating expenses (1,800,000) 1945,000) Net income $1.545.250 $455.000 a. Compute the income (loss) from subsidiary of $145,250 reported by the parent company in its preconsolidation income statement, Do not use negative signs with your answers below. Subsidiary's net income $ 455,ODD 87,500 Upstream sales 140,000 Adjusted subsidiary income $ 507,500 P% of interest 70 355,250 Downstream sales 210,000 Income (loss) from subsidiary S 145,250 X b. Prepare the consolidated income statement for the current year. Do not use negative signs with your answers below. Consolidated Income Statement Sales $ 11,400,000 Cost of goods sold 6,870,000 Gross profit 4,530,000 Operating expenses 1,660,500 x Net income 859,500 x Net income attributable to noncontrolling interests 69,825 x Net income attributable to the parent $ 1,545,250 - b. Prepare the consolidated income statement for the current year. Do not use negative signs with your answers below. Consolidated Income Statement Sales Cost of goods sold Gross profit Operating expenses $ 7,800,000 5,280,000 2,520,000 1,807,500 x 712,500 x 77,175 x $ 789,675 Net income Net income attributable to noncontrolling interests Net income attributable to the parent Preparing a consolidated income statement-Equity method with noncontrolling interest, AAP and upstream and downstream intercompany inventory profits A parent company purchased a 70% controlling interest in its subsidiary several years ago. The aggregate fair value of the controlling and noncontrolling interest was $1,225,000 in excess of the subsidiary's Stockholders' Equity on the acquisition date. This excess was assigned to a building that was estimated to be undervalued by $700,000 and to an unrecorded patent valued at $525,000. The building asset is being depreciated over a 20-year period and the patent is being amortized over an 10-year period, both on the straight-line basis with no salvage value. During the current year, the parent and subsidiary reported a total of $2,100,000 of intercompany sales. At the beginning of the current year, there were $140,000 of upstream intercompany profits in the parent's inventory. At the end of the current year, there were $210,000 of downstream intercompany profits in the subsidiary's inventory. During the current year, the subsidiary declared and paid $280,000 of dividends. The parent company uses the equity method of pre-consolidation investment bookkeeping. Each company reports the following income statement for the current year: Parent Subsidiary Income statement: Sales $10,000,000 $3,500,000 Cost of goods sold (6,800,000) (2,100,000) Gross profit 3.200,000 1,400,000 Income (loss) from subsidiary 145,250 Operating expenses (1,800,000) 1945,000) Net income $1.545.250 $455.000 a. Compute the income (loss) from subsidiary of $145,250 reported by the parent company in its preconsolidation income statement, Do not use negative signs with your answers below. Subsidiary's net income $ 455,ODD 87,500 Upstream sales 140,000 Adjusted subsidiary income $ 507,500 P% of interest 70 355,250 Downstream sales 210,000 Income (loss) from subsidiary S 145,250 X b. Prepare the consolidated income statement for the current year. Do not use negative signs with your answers below. Consolidated Income Statement Sales $ 11,400,000 Cost of goods sold 6,870,000 Gross profit 4,530,000 Operating expenses 1,660,500 x Net income 859,500 x Net income attributable to noncontrolling interests 69,825 x Net income attributable to the parent $ 1,545,250 - b. Prepare the consolidated income statement for the current year. Do not use negative signs with your answers below. Consolidated Income Statement Sales Cost of goods sold Gross profit Operating expenses $ 7,800,000 5,280,000 2,520,000 1,807,500 x 712,500 x 77,175 x $ 789,675 Net income Net income attributable to noncontrolling interests Net income attributable to the parent