Poll Corporation paid $16,200 for a 90% interest in Swamp Corporation on January 1, 2017, when Swamp stockholders' equity consisted of $10,000 Capital Stock and $3,000 of Retained Earnings. The excess cost over book value was attributable to goodwill. Assume proportional pricing for the NCI.

Additional information:

1.Poll sells merchandise to Swamp at 120% of Poll's cost. During 2017, Poll's sales to Swamp were $4,800, of which half of the merchandise remained in Swamp's inventory at December 31, 2017(The 2017 ending inventory was sold in 2018.) During 2018, Poll's sales to Swamp were $6,000 of which 60% remained in Swamp's inventory at December 31, 2018. At year-end 2018, Swamp owed Poll $2,500 for the inventory purchased during 2018.

2.Poll Corporation sold equipment with a book value of $2,000 and a remaining useful life of four years and no salvage value to Swamp Corporation on January 1, 2018 for $2,800.Straight-line depreciation is used.

3.During 2018, Swamp sold to Poll land for $50,000 that had a book value of $20,000. Poll still owns the land at 12/31/18.

4.Separate company financial statements for Poll Corporation and Subsidiary at December 31, 2018 are summarized in the first two columns of the consolidation working papers. See Spreadsheet Tab.

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5.The following information is available for 2017:

Swamp's income $4,000

Swamp's dividends received by Poll $1,800

FOR ANY CALCULATION, DO NOT ROUND AMOUNTS Required: Carefully Follow and label each step. 1. Prepare the acquisition analysis as of acquisition date. Compute the unamortized differential as of 1/1/2017. H O 2. Analyze each intercompa ny transaction. Label as either upstream downstream. 15 3. Calculate Net income to the controlling interest for the year 2018 4. Verify the calculation of the balance in the acccount equity in sub earnings and record the parent company entries with respect to its investment during 2018 5. Prepare all elimination entries for 2018 p U'I 6. Complete the consolidating spreadsheet for the year ended December 31, 2018. \f1. What is the amount of goodwill shown in the consolidated balance sheet? 2. What amount of the intercompany Equipment net gain or loss adjustment be confirmed in 2018? _ Enter as a positive value if gain or a negative value if loss adjustment to net income to controlling interest . 3. What is the amount of the parent company intercompany inventory profit that _ must be unconfirmed in 2018? Enter as a positive value. - 4. What is the amount of the subsidiary intercompany land gain profit that is conrmed in 2018? 5. What is the NonControlling Interest Claim on the Subsidiary's Net Income? _ Enter as a positive amount --- 6. What is the Net Income Attributed to the Controlling Interest? 7. What are consolidated total assets in the Consolidated Balance Sheet? -------_ -_ -------_ _ --- -------_ -