The following are selected accounts and balances for Mergaronite Company and Hill, Inc., as of December 31, 2021. Several of Mergaronite's accounts have been omitted. Credit balances are indicated by parentheses. Dividends were declared and paid in the same period. Revenues Cost of goods sold Depreciation expense Investment income Retained earnings, 1/1/21 Dividends declared Current assets Land Buildings (net) Equipment (net) Liabilities Common stock Additional paid-in capital Mergatonite Hill $ (584,000) $ (258,000) 276,000 92,000 110,000 54,000 NA NA (902,000) (582,000) 138,000 38,000 196,000 660,000 286,000 92,000 502,000 160,000 206,000 254,000 (410,000) (318,000) (298,000) (40,000) (54,000) (892,000) Assume that Mergaronite acquired Hill on January 1, 2017, by issuing 8,000 shares of common stock having a par value of $10 per share but a fair value of $100 each. On January 1, 2017, Hill's land undervalued by $20,600, its buildings were overvalued by $31,200, and equipment was undervalued by $61,800. The buildings had a 10-year remaining life; the equipment had a 5-year remaining life. A customer list with an appraised value of $108,000 was developed internally by Hill and was estimated to have a 20- year remaining useful life. a. Determine the December 31, 2021, consolidated totals for the following accounts: b. In requirement (a), can the consolidated totals be determined without knowing which method the parent used to account for the subsidiary? c. If the parent uses the equity method, what consolidation entries would be used on a 2021 worksheet? Complete this question by entering your answers in the tabs below. Required A Required B Required C If the parent uses the equity method, what consolidation entries would be used on a 2021 worksheet? (If no entry is requ for a transaction/event, select "No journal entry required" in the first account field.) No Event Accounts Debit Credit 1 S Retained earnings Common stock Additional paid-in capital OOOO 582,000 40,000 892,000 Investment in Hill 1,514,000 2 Land 20,600 12,360 102,600 X Equipment (net) Customer list (net) Buildings (net) Investment in Hill 28,080 x 107,480 X wl 3 1 Investment in Hill x 38,000 X Dividends declared 38,000 X 4 D Investment in Hill 38,000 > Dividends declared 38,000 5 E Depreciation expense 9,240 Amortization expense 5,400 3,120 Buildings (net) Equipment (net) Customer list (net) 12,360 5,400