On January 1, 2012, Kiss Ltd $$\begin{array} { l l } \text { Share capital } & \$ 100,000 \\\text { Retained earnings } & \$ 50,000\end{array}$$

On January 1, 2012, Kiss Ltd. acquired a 60% interest in Rosebud Inc. For $115,000. At this date, the equity of Rosebud consisted of the following:
$$\begin{array} { l l } \text { Share capital } & \$ 100,000 \\\text { Retained earnings } & \$ 50,000\end{array}$$ At this date, the identifiable assets and liabilities of Rosebud were recorded at fair value except for the following assets:
$$\begin{array} { l l l } \text { Equipment (cost } \$ 100,000 ) & \text { Carrying Amount: } \$ 70,000 & \text { Fair Value: } \$ 80,000 \\\text { Land } & \text { Carrying Amount: } \$ 85,000 & \text { Fair Value: } \$ 95,000 \\\text { Inventory } & \text { Carrying Amount: } \$ 55,000 & \text { Fair Value: } \$ 60,000\end{array}$$ The equipment had a further 5-year useful life and half of the inventory on hand at the acquisition date was sold by December 31, 2012. The other half was sold in 2013. The land has not been sold.
Kiss uses the full goodwill method. The fair value of the non-controlling interest at January 1, 2012 was $75,000.
During the three years since acquisition, Rosebud has recorded the following annual results:
Year-ended December 31, 2012: Profit of $20,000
Year-ended December 31, 2013: Profit of $25,000
There has been no dividend paid or declared by Rosebud since the acquisition date. The tax rate is 30%.
Required:
a()Prepare the consolidated financial statements adjustment as at January 1, 2012
b()Prepare the consolidated financial statements adjustments for the year ended December 31, 2012
c()Prepare the consolidated financial statements adjustments for the year ended December 31, 2013