Point Company acquired 80 percent of the stock of Slash Corp. on January 1, 2020. The stockholder's equity section at that date is as follows: Stockholder's Equity Section Point Slash Common Stock 600,000 $200,000 Additional Paid in Capital 1,000,000 400,000 Retained Earnings 800,000 600,000 100,000 50,000 Accumulated Other comprehensive Income $2,500,000 $1,250,000 Total Stockholders' Equity Point financed the acquisition by using $1,000,000 cash and giving a note payable for $125,000. Book value approximated fair value for all of Slash's assets and liabilities except for: Buildings which had a fair value of $50,000 more than its book value and a remaining useful life of 10 years. Land which had a fair value of $40,000 more than its book value. Merchandise Inventory which had a fair value of 20,000 more than its book value, and was sold during 2020. Internally created patent with a fair value of 30,000 and a useful life of 5 years. Internally created patent with a fair value of 30,000 and a useful life of 5 years. Any remaining differential was related to goodwill. Goodwill is deemed to be impaired and worth only $12,000. Slash has accounts payable to point in the amount of $25,000. During 2020, Point & Slash had the following: Point Slash 1. Declared cash dividends $120,000 $ 60,000 2. Earned net income 200,000 100,000 40,000 20,000 3. Earned other comprehensive income from available-for-sale securities Use this information to calculate the followings: The amount of total differential is Answer: Question 19 Not yet answered Marked out of 1 P Flag question The balance of Income from Slash account on December 31, 2020 is Answer: The balance of Investment in Slash account on December 31, 2020 is Answer: Question 21 Not yet answered Marked out of 1 P Flag question Consolidated net income on December 31, 2020 is Answer: Consolidated net income attributable to controlling interest on December 31, 2020 is Answer: Question 23 Not yet answered Marked out of 1 P Flag question Consolidated retained earnings on December 31, 2020 is Answer: Consolidated comprehensive income on December 31, 2020 is Answer: Question 25 Not yet answered Marked out of 1 P Flag question Consolidated comprehensive income attributable to controlling interest on December 31, 2020 is