+ Show the calculations for P and noncontrolling interest (NCI) of the following: a. goodwill allocation between P and NCI b. ending investment balances of P's investment in S and NCI's investment in S c. the amount of annual excess amortization and the ending net amount for asset(s) d. the allocation of S's net income to P and NCI e. the allocation of dividends declared by S to P and NCI f. deferred and subsequent recognition of gross profit from intra-entity sales for the consolidation entries needed in preparing the consolidation worksheet and On 1/1/Y1, P, Inc., paid $37,200 for 60% of S's total outstanding common stock when S's book value on 1/1/Y1 consisted of common stock of $10,000 and retained earnings of $22,000. The 1/1/Y1 fair value of the 40% noncontrolling interest was $24,000. S held patents (a 10-year remaining life) undervalued in S's books by $7,000 and an unrecorded customer list (15-year remaining life) at a $4,500 fair value. Accounting under the equity method for this combination and no goodwill impairment has occurred. P lent $3,500 to S on 5/1/Y2. The individual financial statements for these two companies as of 12/31/Y2: P, Inc. S, Inc. Sales $ (70,000) $(33,500) Cost of goods sold 46,000 20,500 Operating expenses 18,800 7,000 Equity in earnings in S (2,800) -0- Net income $(8,000) $(6,000) Retained earnings, 1/1/Y2 $(69,500) $(28,000) Net income (8,000) (6,000) Dividends declared 4,500 1,500 Retained earnings, 12/31/Y2 $(73,000) $(32,500) Cash and receivables $24,800 $14,800 Inventory 23,300 12,900 Investment in S 41,100 -0- Buildings (net) 30,800 20,200 Asset(s) (net) Patents (net) Total assets Liabilities 22,000 8,600 -0- 2,000 $142,000 $58,500 $(39,000) $(16,000) Common stock Retained earnings, 12/31/Y2 Total liabilities and equities (30,000) (10,000) (73,000) (32,500) $(142,000) $(58,500) Intra-entity inventory sales between the two companies have been made as follows: Cost to P Year Y1 $12,000 Y2 11,200 Transfer Price to S $15,000 16,000 Ending Balance transfer price) (at $5,000 4,000