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Please show all work and calculations. On January 1, 20X8. Cayane Inc. purchased 90% of an German firm Brosch Manufacturing when Brosch's equity consisted of

Please show all work and calculations.
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On January 1, 20X8. Cayane Inc. purchased 90% of an German firm Brosch Manufacturing when Brosch's equity consisted of the following Common stock Paid-in capital in excess of par 100,000 Retained earnings 500,000 euros 150.000 750.000 euros Cayane paid 810,000 euros for its 90% interest in Brosch. The excess over book value was attributed to a building with a 20-year useful life. Brosch reported net income for 20X8 of 150,000 euros The year-end cumulative translation adjustment is $10,000 credit Relevant exchange rates are as follows January 1, 20X8 euro S.65 December 31, 20X8 1 euro.68 20X8 average 1 euro .66 Required Prepare all the journal entries related to Cayane's investment in Brosch and all the necessary eliminating and adjusting entries for consolidation of Brosch, assuming the use of the simple equity method

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