Question 3. On 0101/2020, Big Co. purchase 90% of Small Co. common stock for $35,000 cash and $200,000 longterm note. Bg also paid $3000 cash foc investment banking fee. Smail was not dissolved after the purchase. During 2020, Small reported net income of $50,000 and paid dividends of $30,000. During 2021, Smal reported net income of $75,000 and paid dividends of $45,000. Big Co. uses the EQUITY methed to track its investment in Smail. Nota: At the time of acquisition, Small had tand with tair value higher than book value by 58,000 , an equipment with tair value lower than book value by $4,000 and a bulliding with far value higher than book value by $12000. The equipment and building has 5 years and 10 years of useful ife each. Small has a book value of $204,000 on 010112020. The fair value of Smails net assets was $220,000 at Eme of acquistion. Hint: The ending balance of Finvestment in Small" account in 2013 need to be calculated al the way staring from 010122020 and making adjustments in 2020 and then in 2021. Please use the acquisition method to consolidate the books of Big and Small Co. on 12/31/2021. Total Journal entries related to adjustments to its investment interest in Small using EQUITY mathod during 2021 before consolidation Debit Credt Credi Balances