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For each of the following situations (47-56), select the correct entry (A - E) that would be required on a consolidation worksheet. (A) Debit retained earnings (B) Credit retained earnings (C) Debit investment in subsidiary (D) Credit investment in subsidiary. (E) None of these answer choices are correct. 47 .Upstream beginning intra-entity gross profit on inventory, using the initial value method of accounting. 48 Downstream beginning intra-entity gross profit on inventory, using the initial value method of accounting 49Upstream ending intra-entity gross profit on inventory, using the initial value method of accounting 50 . accounting. Downstream ending intra-entity gross profit on inventory, using the initial value method of 51. Upstream transfer of depreciable assets, in the period after transfer, where subsidiary recognizes a gain, using the initial value method of accounting. 52. Downstream transfer of depreciable assets, in the period after transfer, where parent recognizes a gain, using the initial value method of accounting. 53. Upstream transfer of land, in the period after transfer, where subsidiary recognizes a loss, using the initial value method of accounting. 54. Downstream transfer of land, in the period after transfer, where parent recognizes a loss, using the initial value method of accounting. 55. Eliminate income from subsidiary, recorded under the equity method of accounting. 56. Eliminate recorded amortization of acquisition-date fair value over book value, recorded under the equity method of accounting

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