Through the payment of $14,890,000 in cash, Drexel Company acquires voting control over Young Company. This price is paid for 70% of the subsidiary;s 150,000 outstanding common shares ($40 par value) as well as all 30,000 shares of 6 percent, cumulative, $100 par value preferred stock. Of the total payment, $3.2 million is attributed to the fully partifipating preferred stock with the remainder paid for the common. This acquisition is carried out on January 1, 2021, when Young reports retained earnings of $10.1 million and a total book value of $19.1 million. The acquisition date fair value of the non-controlling interest in Young's common stock was $5,010,000. On the same date a building owned by Young with a six year remaining life is undervalued in the financial records by $210,000, well equipment with a five year remaining life is overvalued by $110,000. Any further access acquisition date fair value as a sign to a brand name with a 20 year remaining life. During 2021, Young reports net income of $910,000 while the Clarion $410,000 in cash dividends. Drexel used the initial value metod to account for both these investments. Prepare appropriate entires for 2021. I can not figure out the 3rd entry. Please see attached document for the entires.

Through the payment of $14,890,000 in cash, Drexel Company acquires voting control over Young Company. This price is paid for 70% of the subsidiary;s 150,000 outstanding common shares ($40 par value) as well as all 30,000 shares of 6 percent, cumulative, $100 par value preferred stock. Of the total payment, $3.2 million is attributed to the fully partifipating preferred stock with the remainder paid for the common. This acquisition is carried out on January 1, 2021, when Young reports retained earnings of $10.1 million and a total book value of $19.1 million. The acquisition date fair value of the non-controlling interest in Young's common stock was $5,010,000. On the same date a building owned by Young with a six year remaining life is undervalued in the financial records by $210,000, well equipment with a five year remaining life is overvalued by $110,000. Any further access acquisition date fair value as a sign to a brand name with a 20 year remaining life.

During 2021, Young reports net income of $910,000 while the Clarion $410,000 in cash dividends. Drexel used the initial value metod to account for both these investments.

Prepare appropriate entires for 2021. I can not figure out the 3rd entry. Please see attached document for the entires.