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Information for questions 10-14 (25 points) Pox Corporation acquired all of Subburg Company's outstanding stock on January 1, 2019, for $600,000 cash. Subburg's accounting records showed net assets on that date of $470,000, although equipment with a 10-year remaining life was undervalued on the records by $90,000 Any recognized goodwill is considered to have an indefinite life. Suhburg reports net income in 2019 of $90,000 and $100,000 in 2020. The subsidiary declared dividends of $20,000 in each of these two years. Account balances for the year ending December 31, 2021, follow. Credit balances are indicated by parentheses. Poxx Subburg Revenues $ (800,000) $ (600,000) Cost of goods sold 100,000 150,000 Depreciation expense 300,000 350,000 Investment income (20,000) 0 Net income $ (420,000) $ (100,000) Retained carnings, 1/1/21 $(1,100,000) $ (320,000) Net income (420,000) (100,000) Dividends declared 120,000 20,000 Retained earnings, 12/31/21$(1,400,000) $ (400,000) Current assets $ 300,000 $100,000 Investment in subsidiary 600,000 0 Equipment (net) 900,000 600,000 Buildings (net) 800,000 400,000 Land 600,000 100,000 Total assets $ 3,200,000 $ 1,200,000 Liabilities $ (900,000) S (500,000) Common stock (900,000) (300,000) Retained earnings (1,400,000) (400,000) Total liabilities and equity S(3,200,000) $(1,200,000) 10. Determine the December 31, 2021, consolidated balance for depreciation (5) 11. Determine the December 31, 2021, consolidated balance for Revenues (5) 12. Determine the December 31, 2021, consolidated balance for Equipment (5) 13. Determine the December 31, 2021, consolidated balance for goodwill (5) 14. What information in this problem lets you know that Pox is NOT using the equity method on its books to account for its investment in Subburg? (5 points) 9 Fod

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