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14 Parson Company acquired an 80 percent interest in Syber Company on January 1, 2017, Any portion of Syber's business fair value in excess of it's corresponding book value was assigned to trademarks. This intangible asset has subsequently undergone annual amortization based on a 15-year life. Over the past two years, regular intra-entity inventory sales transpired between the two companies. No payment has yet been made on the latest transfer. All dividends are paid in the same period as declared nts The individual financial statements for the two companies as well as consolidated totals for 2018 follow Parson Syber Consolidated Company Company Totals eBook Sales (990,000) $ (790, 000) $ (1, 622, 090) Cost of goods sold 595,000 495, 080 946, 090 Operating expenses 138,090 157, 000 298, 000 (103, 300) Print Income of Syber Separate company net income (360, 300) $ (138, 000) Consolidated net income (378, 000) Net income attributable to noncontrolling ferences interest 17, 700 Net income attributable to Parson Company (360, 300) Retained earnings, 1/1/18 (OOT'079) $ (328,000) (640, 100) Net income (above) 360,300) 138,000) (360, 300) Dividends declared 68,000 49,000 68,000 Retained earnings, 12/31/18 (932,400) (417,000) (932, 400) Cash and receivables 488,000 99,000 561, 200 Inventory 209,000 198, 000 388,000 Investment in Syber Company 446, 400 Land, buildings, and equipment 418,000 317,000 735,000 Trademarks 32,500 Total assets $ 1, 561, 400 614,000 1, 716, 700 Liabilities (365, 000) (000 '6TT) $ (423, 800) Common stock (215,000) (78,000) 215,000) Additional paid-in capital (one'6+) (49,000) Noncontrolling interest in Syber (96,500) Retained earnings (above) (932,400) (417, 000) (932, 400) Total liabilities and equities $ (1, 561, 400) $ (614,000) a. What method does Parson use to account for its investment in Syber? b. What is the balance of the intra-entity inventory gross profit deferred at the end of the current period? c. What amount was originally allocated to the trademarks? d. What is the amount of the current year intra-entity inventory sales? e. Were the intra-entity inventory sales made upstream or downstream? f. What is the balance of the intra-entity liability at the end of the current year? g. What amount of intra-entity gross profit was deferred from the preceding period and recognized in the current period? h. What was the ending Noncontrolling Interest in Syber Company computed? i. With a tax rate of 40 percent, what income tax journal entry is recorded if the companies prepare a consolidated tax return? j. With a tax rate of 40 percent, what income tax journal entry is recorded if these two companies prepare separate tax returns? Complete this question by entering your answers in the tabs below. Req A to H Req I and ] a. What method does Parson use to account for its investment in Syber? b. What is the balance of the intra-entity inventory gross profit deferred at the end of the current period? c. What amount was originally allocated to the trademarks? d. What is the amount of the current year intra-entity inventory sales? e. Were the intra-entity inventory sales made upstream or downstream? f. What is the balance of the intra-entity liability at the end of the current year? g. What amount of intra-entity gross profit was deferred from the preceding period and recognized in the current period? h. What was the ending Noncontrolling Interest in Syber Company computed? Show less A