would like to see what a tutor gets to compare wyh mine .

Problem 5: On 01/03/22, P Company purchased 6,000 of the 20,000 shares of X, Inc. for $17 per share, Un the date of acquisition, P calculated that its share of the excess of the fair value over the book value of X's depreciable assets was $40,000 and that the purchased goodwill was $12,000. At the end of 2022,X reported net income of $200,000 and paid dividends of $80,000. X depreciates its depreciable assets over a 10 -year remaining life. Prepare all the journal entries of P to record the preceding information for 2022