question Advanced Accounting

View previo Foxx Corporation acquired all of Greenburg Company's outstanding stock on January 1, 2019, for $816,000 cash. Greenburg's accounting records showed net assets on that date of $587,000, although equipment with a 10-year remaining life was undervalued on the records by $183,000. Any recognized goodwill is considered to have an indefinite life. Greenburg reports net income in 2019 of $91,000 and $108,000 in 2020. The subsidiary declared dividends of $20,000 in each of these two years. Account balances for the year ending December 31, 2021, follow. Credit balances are indicated by parentheses. Foxx Greenburg Revenues $ (1, 196,060) $ (912,060) Cost of goods sold 149, 500 228, 000 Depreciation expense 476, 000 435,000 Investment income (20,000) Net income $ (590, 500) $ (249,000) Retained earnings, 1/1/21 $ (1, 108,000) $ (446,000) Net income (590, 500) (249,000) Dividends declared 120, 000 20,000 Retained earnings, 12/31/21 $ (1, 578, 500) $ (675,000) Current assets $ 363,000 143, 000 Investment in subsidiary 816,000 Equipment (net) 1, 064, 900 746,090 Buildings (net) 882,000 528,000 Land 728,000 118,000 Total assets $ 3, 853,000 $ 1, 535,000 Liabilities $ ( 1, 374, 500) $ (560,000) Common stock (900,000) (300,000 Retained earnings (1, 578, 500) (675,000 Total liabilities and equity $ (3, 853,000) $ (1, 535, 000previous attempt Vie a. Determine the December 31, 2021, consolidated balance for each of the following accounts: Depreciation Expense Buildings Dividends Declared Goodwill Revenues Common Stock Equipment d. Determine parent's investment income for 2021 under partial equity method and equity metnoa. e. What would be Foxx's balance for retained earnings as of January 1, 2021, if each of the following methods had been in use? . Initial value method. . Partial equity method. . Equity method.Req A Req B and C Reg D and E Determine the December 31, 2021, consolidated balance for values.) Consolidated Balances Depreciation expense Dividends declared CA Revenues Equipment Buildings Goodwill Common stockComplete this question by entering your answers in the tabs below. 15 Req A Req B and C Req D and E d. Determine parent's investment income for 2021 under partial equity method and equity me e. What would be Foxx's balance for retained earnings as of January 1, 2021, if each of the fol use? d. e. Investment Retained Income Earnings Initial value method Partial equity method $ $ Equity method $