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book Print Out 17 lete Equity Method and Eliminating Entries Three Years After Acquisition Puffin Industries acquired all of Suret Coast Digtas stack on January , 2016. for 35.250.000, 150,000 in excess of book wale At that time. Surse Conventory (s vody 5750,000 and its plantasets (10 years were overvalued by $1.500.000. The remaining excess of cost over book value is ruted to undervalueddentifiable intangible usberg med over 20 years. Sunset Coast deprecates plants and amortires angles by the weight line method. During 2014 and 2015 Set Coast reported income of 75.000 and pado 50 percent individends. Puffin carries its investment in Surset Coast using the complete equity method. Sunset Colorated each year since we wired by and St Coast's reported net income for 2016 was $300.000, and dividends totaled 50 percent of reported income a. Compute Puffin's 2016 equity in net income of Sunset Coast $0 b. Compute the balance in the investment in Sunset Coast account at December 31, 2016, after all equiry method entries have been booket. $0 . Prepare the working paper climinating entries needed in consolidation at December 31, 2016 Consolidation mural Description Debat Credit Bet 3 . Investment in Sunset LEI compor ROHET BEGUE SEUES VIDEOS 0 Prepare the working paper fomenting entries needed in consolidation at December 2014 Cantin Description Dell Cri Bet . U ram Depon d. Puffin reports 5900.000 net income from its ownerations in 2016 wutis consolidated net income for 2010 0 Check Funem Previous Save Answers

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