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At the time of Ford's purchase, the fixed assets had a remaining life of 8...

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Accounting

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At the time of Ford's purchase, the fixed assets had a remaining life of 8 years. For the year ended December 31,201, Allen reported sales of 59 million and expenses of $5 mihion and declared and paid dividends of $1 million, At December 31,201, Allen reported the following balance sheet information. Required: 1. Determine the income statement and balance sheet accounts and amounts as they would appear on Fords financial statements under the equity mothod for the year ended December 31, 20x1. Be sure to show calculations. 2. Explain how your answer to requirement 1 would change if Ford determined that it actually controlled Alen and had to consolidate its investment Determine specific income statement and balance sheet accounts and amounts where passible, Be sure to show calculations

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