Please show all work!

In year 2018, Choco and Allie had an intra-entity receivable and payable transaction of $9,000. Prepare Entry P, consolidation worksheet entries for December 31, 2018(t+2).

What is the Equity in Allie Co. income balance on Choco's books as of December 31, 2018(t+2), if the partial equity method has been applied?

Choco Inc. acquired all of the outstanding common stock of Allie Co. on January 1, 2017(t), for $620,000 cash. Following is the balance sheet for Allie Co. in December 31, 2016. Book Value Fair Value FV-BV Current assets $100,000 $100,000 Building (30 years) 200.000 260,000 Equipment (10 years) Total liabilities 300,000 $(140,000) $460,000 340,000 S(140,000) $560,000 Net assets Common stock $(200,000) Additional paid in capital (150,000) Retained earnings 12/31/2016 (110,000) Total Stockholders' equity $(460,000) Total liabilities and Stockholders' equity $(600,000) 2017(t+1) 2018(t+2) Net income Dividends Net income Dividends Allie (subsidiary) S(70,000) $10,000 $160,000) After Choco's acquisition, Allie Co. didn't had any changes in common stock and additional paid in capital