Required Information Use this Information to answer the following questions 10-12 (Algo) (LO 3-30) [The following information applies to the questions displayed below.] On January 1, 2019. Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $776,000 cash. At January 1, 2019, Sedona's net assets had a total carrying amount of $543,200. Equipment (eight-year remaining life) was undervalued on Sedona's financial records by $126,000. Any remaining excess fair over book value was attributed to a customer list developed by Sedona (four-year remaining life), but not recorded on its books. Phoenix applies the equity method to account for its Investment in Sedona. Each year since the acquisition, Sedona has declared a $46,000 dividend. Sedona recorded net income of $111,000 in 2019 and $125,600 In 2020. Selected account balances from the two companies' Individual records were as follows: 2021 Revenues 2021 Expenses 2021 Income from Sedona Retained earnings 12/31/21 Phoenix $ 554,000 Sedona $ 349,400 362,000 251,000 55,950 298,150 231,300 Problem 3-10 (Algo) (LO 3-3a) What is consolidated net Income for Phoenix and Sedona for 2021? Problem 3-11 (Algo) (LO 3-3a) What is Phoenix's consolidated retained earnings balance at December 31, 2021? Problem 3-12 (Algo) (LO 3-3a) On Its December 31, 2021, consolidated balance sheet, what amount should Phoenix report for Sedona's customer list