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Salt Inc. acquired $80\%$ of the voting stock of Sugar Inc. on January $2,2017$ for $$21,000.$ The fair value of the noncontrolling interest at the acquisition date was $$3,000.$ The excess of Sugar$$s fair value over its $$4,000$ book value was attributed to previously unrecorded limited life identifiable intangible assets $(6,000,5-$year life$),$ the book value of property plant and equipment exceeded its fair value by $$4000(4-$year remaining life$)$ and goodwill.$$ Salt$$s fiscal year ends December $31.$ As of January $1,2021,$ the goodwill was impaired by $$10,000$ and identifiable intangibles are not impaired.$$ There is no impairment of either intangible in $2021.$ Sugar transfers merchandise to Salt on a regular basis at a markup of $25\%$ on cost$.$ Following is information on intercompany merchandise transactions for fiscal year $2021.$

$$ Balance in Salt beginning inventory purchased from Sugar: $$2000$

$$ Balance in Salt ending inventory purchased from Sugar: $$600$

$$ Total sales from Sugar to Salt, at the price charged to Salt: $$20,000$

$$ At the beginning of $2018,$ Salt sold a delivery truck to Sugar for $$10,000.$ At the time of the sale the truck had a book value of $$5,000$ and a remaining useful life of $5$ years.

$$ At the end of $2021,$ Salt owed Sugar $$3000$ for inventory purchases.

Salt uses the equity method to account for its investment in Sugar on its own books.$$ All inventory is accounted for using FIFO.

a$.$ Calculate the allocation of goodwill between controlling and noncontrolling interests

b$.$ Calculate the equity in income appearing on Salt$$s separate books and the noncontrolling interest in net income for $2021.$

c$.$ Prepare the working paper to consolidate the December $31,2021,$ labeling your CIERON elimination entries.

d$.$ Prepare the Consolidated Income Statement and Balance Sheet in good form.

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