Question 13 P acquired 75% shares of S on Jan 1, 2018, for S150,000. On that date S reported a common stock of $100,000 and retained earnings of $60,000. All assets have of S have a fair value equal to the book. During 2018, S reported a net income of $80,000 and paid dividend of $20,000. On Dee 31,2018 , in the consolidation entry to close the common stock and retained earnings of the subsidiary, the retained eamings account will be debited with how much amount? Hint: Herc you need to calculate the ending balance of retained earnings S Question 14 Pacquired 75\% shares of S on Jan 1, 2018, for $150,000, On that date S reported a common stock of S100,000 and reained earnings of $100,000. All assets have of S have a fair value equal to the book. On the date of acquisition. what amount of non-controlling interest will be reported in the consolidated balance sheet