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 Mergaranite $ (610,000) 262,000 104,000 NA (904,000) 130,000 204,000 286,000 516,000 210,000 (390,000) (316,000) (52,000) Hill $ (250,000) 96,000 40,000 NA (590,000) 36,000 690,000 82,000 152,000 246,000 (310,000) (42,000) (880,000) Assume that Mergaronite acquired Hill on January 1, 2017, by issuing 7,000 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 was undervalued by $18,600, its buildings were overvalued by $29,600, and equipment was undervalued by $61,200. The buildings had a 10-year remaining life; the equipment had a 5-year remaining life. A customer list with an appraised value of $110,000 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 Determine the December 31, 2021, consolidated totals for the following accounts: (Input all amounts as positive values.) Consolidated Totals $ 860,000 $ 358,000 $ 153,280 $ 5,500 Revenues Cost of goods sold Depreciation expense Amortization expense Buildings Equipment Customer list Common stock Additional paid-in capital $ 456,000 $ 316,000 52,000 $ 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 required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list transaction list No Event Accounts Debit Credit 1 S 42,000 880,000 Common stock Additional paid-in capital Retained earnings Investment in Hill