Question: I'm having trouble finding the consolidated balances for the problem ( for PART A ) below. Can you please include explanations and calculations that explain how to get the consolidated balances.

NOTE: I've attached an answer key for reference. However, it does not have additional calculations or explanations as to how to arrive at the correct answers.

NOTE: Please provide your explanations and calculations in Word or Excel format as written responses are hard to read. I appreciate it.

LO 3-2, 3-3, 3-4 24. Foxx Corporation acquired all of Greenburg Company's outstanding stock on January 1, 2016, for $600,000 cash. Greenburg's accounting records showed net assets on that date of $470,000, although equipment with a 10-year remaining life was undervalued on the records by $90,000. Any recognized goodwill is considered to have an indefinite life. Greenburg reports net income in 2016 of $90,000 and $100,000 in 2017. The subsidiary declared dividends of $20,000 in each of these two years. Account balances for the year ending December 31, 2018, follow. Credit balances are indicated by parentheses. Foxx Revenues. Cost of goods sold Depreciation expense Investment income. $ (800,000) 100,000 300,000 (20,000) $ (420,000) Greenburg $ (600,000) 150,000 350,000 -O- $ (100,000) Net income. Retained earnings, 1/1/18. Net income $(1,100,000) $ (320,000) (100.000) (420.000) Dividends declared. Retained earnings, 12/31/18 120,000 $(1,400,000) 20,000 $ (400,000) Current assets Investment in subsidiary Equipment (net). Buildings (net) Land... Total assets $ 300,000 600,000 900,000 800,000 600,000 $3,200,000 $ 100,000 -O- 600,000 400,000 100,000 $ 1,200,000 Liabilities. Common stock Retained earnings. Total liabilities and equity $ (900,000) (900,000) (1,400,000) $(3,200,000) $ (500,000) (300,000) (400,000) $(1,200,000) a. Determine the December 31, 2018, consolidated balance for each of the following accounts: Depreciation Expense Buildings Dividends Declared Goodwill Revenues Common Stock Equipment b. How does the parent's choice of an accounting method for its investment affect the balances computed in requirement (a)? c. Which method of accounting for this subsidiary is the parent actually using for internal report- ing purposes? d. If the parent company had used a different method of accounting for this investment, how could that method have been identified? 24. excess (Consolidated balances three years after the date of acquisition. Includes questions about parent's method of recording investment for internal reporting purposes.) a. Acquisition-Date Fair Value Allocation and Amortization: Consideration transferred 1/1/16 $600,000 Book value (given) (470,000) Fair value in excess of book value 130,000 Annual Remaining Allocation to equipment based on Life amortizations fair and book value difference 90,000 10 yrs. $9,000 Goodwill $40,000 indefinite -0- Total $9,000 CONSOLIDATED BALANCES Depreciation expense = $659,000 (book values plus $9,000 excess depreciation) Dividends declared = $120,000 (parent balance only. Subsidiary's dividends are eliminated as intra-entity transfer) Revenues = $1,400,000 (add book values) Equipment = $1,563,000 (add book values plus $90,000 allocation less three years of excess depreciation [$27,000]) Buildings = $1,200,000 (add book values) Goodwill $40,000 (original residual allocation) Common Stock = $900,000 (parent balance only) b. The parent's choice of an investment method has no impact on the consolidated totals. The choice of an investment method only affects the internal reporting of the parent. c. The initial value method is used. The parent's Investment in Subsidiary LO 3-2, 3-3, 3-4 24. Foxx Corporation acquired all of Greenburg Company's outstanding stock on January 1, 2016, for $600,000 cash. Greenburg's accounting records showed net assets on that date of $470,000, although equipment with a 10-year remaining life was undervalued on the records by $90,000. Any recognized goodwill is considered to have an indefinite life. Greenburg reports net income in 2016 of $90,000 and $100,000 in 2017. The subsidiary declared dividends of $20,000 in each of these two years. Account balances for the year ending December 31, 2018, follow. Credit balances are indicated by parentheses. Foxx Revenues. Cost of goods sold Depreciation expense Investment income. $ (800,000) 100,000 300,000 (20,000) $ (420,000) Greenburg $ (600,000) 150,000 350,000 -O- $ (100,000) Net income. Retained earnings, 1/1/18. Net income $(1,100,000) $ (320,000) (100.000) (420.000) Dividends declared. Retained earnings, 12/31/18 120,000 $(1,400,000) 20,000 $ (400,000) Current assets Investment in subsidiary Equipment (net). Buildings (net) Land... Total assets $ 300,000 600,000 900,000 800,000 600,000 $3,200,000 $ 100,000 -O- 600,000 400,000 100,000 $ 1,200,000 Liabilities. Common stock Retained earnings. Total liabilities and equity $ (900,000) (900,000) (1,400,000) $(3,200,000) $ (500,000) (300,000) (400,000) $(1,200,000) a. Determine the December 31, 2018, consolidated balance for each of the following accounts: Depreciation Expense Buildings Dividends Declared Goodwill Revenues Common Stock Equipment b. How does the parent's choice of an accounting method for its investment affect the balances computed in requirement (a)? c. Which method of accounting for this subsidiary is the parent actually using for internal report- ing purposes? d. If the parent company had used a different method of accounting for this investment, how could that method have been identified? 24. excess (Consolidated balances three years after the date of acquisition. Includes questions about parent's method of recording investment for internal reporting purposes.) a. Acquisition-Date Fair Value Allocation and Amortization: Consideration transferred 1/1/16 $600,000 Book value (given) (470,000) Fair value in excess of book value 130,000 Annual Remaining Allocation to equipment based on Life amortizations fair and book value difference 90,000 10 yrs. $9,000 Goodwill $40,000 indefinite -0- Total $9,000 CONSOLIDATED BALANCES Depreciation expense = $659,000 (book values plus $9,000 excess depreciation) Dividends declared = $120,000 (parent balance only. Subsidiary's dividends are eliminated as intra-entity transfer) Revenues = $1,400,000 (add book values) Equipment = $1,563,000 (add book values plus $90,000 allocation less three years of excess depreciation [$27,000]) Buildings = $1,200,000 (add book values) Goodwill $40,000 (original residual allocation) Common Stock = $900,000 (parent balance only) b. The parent's choice of an investment method has no impact on the consolidated totals. The choice of an investment method only affects the internal reporting of the parent. c. The initial value method is used. The parent's Investment in Subsidiary