Pop Corporation acquired 70 percent of Soda Company's voting common shares on January 1, 20x2, for $114,800. At that date, the noncontrolling interest had a fair value of $49,200 and Soda reported $70,000 of common stock outstanding and retained earnings of $25,000. The differential is assigned to buildings and equipment, which had a fair value $22,000 higher than book value and a remaining 10-year life, and to patents, which had a fair value $47,000 higher than book value and a remaining life of five years at the date of the business combination. Trial balances for the companies as of December 31, 20x3, are as follows: Pop Corporation Soda Company Item Debit Credit Debit Credit Cash & Accounts Receivable $ 17,400 $ 23,600 Inventory 167,000 37,000 Land 82,000 42,000 Buildings & Equipment 360,000 262,000 Investment in Soda Company 117,100 Cost of Goods Sold 188,000 81,800 Depreciation Expense 25,000 20,000 Interest Expense 18,000 7,200 Dividends Declared 32,000 17,000 Accumulated Depreciation $ 142,000 $ 90,000 Accounts Payable 94,400 37,000 Bonds Payable 234,180 90,000 Bond Premium 1,600 Common Stock 122,000 70,000 Retained Earnings 129,900 62,000 262,000 140,000 Other Income 11,600 Income from Soda Company 10,420 $1,006,500 $1,006,500 $490,600 $490,600 Sales 70,000 $2,000 17,000 1.Common stock Retained earnings Income from soda company NCI in NI of soda company Dividends declared Investment in soda company NCI in NA of soda company 2.Amortization expense Depreciation expense Income from soda company NCI in NI of soda company 3.Buildings and equipment Patents Accumulated depreciation ? ? 4.Accumulated depreciation Building and equipment 5.NCI in NA of soda company Investment in soda company Cost of goods sold 6.NCI in NA soda company Investment in soda company Inventory 7.Sales Cost of goods sold Inventory PLEASE PROVIDE CALCUALTIONS Pop Corporation acquired 70 percent of Soda Company's voting common shares on January 1, 20x2, for $114,800. At that date, the noncontrolling interest had a fair value of $49,200 and Soda reported $70,000 of common stock outstanding and retained earnings of $25,000. The differential is assigned to buildings and equipment, which had a fair value $22,000 higher than book value and a remaining 10-year life, and to patents, which had a fair value $47,000 higher than book value and a remaining life of five years at the date of the business combination. Trial balances for the companies as of December 31, 20x3, are as follows: Pop Corporation Soda Company Item Debit Credit Debit Credit Cash & Accounts Receivable $ 17,400 $ 23,600 Inventory 167,000 37,000 Land 82,000 42,000 Buildings & Equipment 360,000 262,000 Investment in Soda Company 117,100 Cost of Goods Sold 188,000 81,800 Depreciation Expense 25,000 20,000 Interest Expense 18,000 7,200 Dividends Declared 32,000 17,000 Accumulated Depreciation $ 142,000 $ 90,000 Accounts Payable 94,400 37,000 Bonds Payable 234,180 90,000 Bond Premium 1,600 Common Stock 122,000 70,000 Retained Earnings 129,900 62,000 262,000 140,000 Other Income 11,600 Income from Soda Company 10,420 $1,006,500 $1,006,500 $490,600 $490,600 Sales Pop Corporation acquired 70 percent of Soda Company's voting common shares on January 1, 20x2, for $114,800. At that date, the noncontrolling interest had a fair value of $49,200 and Soda reported $70,000 of common stock outstanding and retained earnings of $25,000. The differential is assigned to buildings and equipment, which had a fair value $22,000 higher than book value and a remaining 10-year life, and to patents, which had a fair value $47,000 higher than book value and a remaining life of five years at the date of the business combination. Trial balances for the companies as of December 31, 20x3, are as follows: Pop Corporation Soda Company Item Debit Credit Debit Credit Cash & Accounts Receivable $ 17,400 $ 23,600 Inventory 167,000 37,000 Land 82,000 42,000 Buildings & Equipment 360,000 262,000 Investment in Soda Company 117,100 Cost of Goods Sold 188,000 81,800 Depreciation Expense 25,000 20,000 Interest Expense 18,000 7,200 Dividends Declared 32,000 17,000 Accumulated Depreciation $ 142,000 $ 90,000 Accounts Payable 94,400 37,000 Bonds Payable 234,180 90,000 Bond Premium 1,600 Common Stock 122,000 70,000 Retained Earnings 129,900 62,000 262,000 140,000 Other Income 11,600 Income from Soda Company 10,420 $1,006,500 $1,006,500 $490,600 $490,600 Sales