Use the following information for the next 10 questions On January 1, 2019, Paris Company acquired 80% of the voting common stock of Sun Co. for $650,000 cash. The two companies had the following balance sheets on the date of acquisition (Book values). Paris Sun Current Assets $700,000 $175,000 Equipment (Net) 1,520,000 550,000 Total Assets 2,220,000 725,000 Current Liabilities $500,000 120,000 Common Stock 100,000 80,000 Additional Paid-in 900,000 300,000 Capital Retained Earnings 720,000 225,000 Total Liabilities and 2,220,000 725,000 Equity k ProTotal Liabilities and Equity 2,220,000 725,000 On the date of acquisition, the fair values of Sun's assets and liabilities were equal to their book values except for equipment which had a fair value of $625,000. The equipment had a remaining useful life of 5 years and no salvage value. Any remaining excess is goodwill. Paris and Sun had the following information for 2019 and 2020. Paris Sun 2019 Net Income (Internally Generated) $170,000 $60,000 Dividends 30,000 18,000 2020 Net Income (Internally Generated) 201,000 55,000 25,000 21,000 Dividends MacBook ProD Question 21 3 pts Assume that Paris uses the equity method to account for its investment in Sun. What is the balance of the "Investment in Subsidiary - Sun" in Paris books at the end of 2019? D Question 22 3 pts Assume that Paris uses the cost method to account for its investment in Sun. What is the balance of the "Investment in Subsidiary - Sun" in Paris books at the end of 2020? 3 pts D Question 23 Assume that Paris uses the cost method to account for its investment in Sun, what is the "Subsidiary Income" that Paris recognizes in its books for 2020? MacBook Pro