1 2 3 4 5 On January 1, 20X3, Zepplin Corporation reported total assets of $470,000, liabilities of $270,000, equity of $200,000. At that date, Floyd Corporation reported total assets of $190,000, liabilities of $135,000, and stockholders' and stockholders' equity of $55,000. Following lengthy negotiations, Zepplin paid Floyd's existing shareholders $44,000 in cash for 80 percent of the voting common shares of Floyd. Required: 6 a. What amount of total assets did Zepplin report in its individual balance sheet? 7 8 Note: Use cells A2 and A10 to B12 from the given information to complete this question. 9 10 Total assets reported prior to acquisition $470,000 11 Cash outlay 12 Investment in Floyd 13 Total assets reported following acquisition 14 $44,000 $44,000 $470,000 15 b. What amount of total assets was reported in the consolidated balance sheet? 16 17 Note: Use cells A2 and A19 to B21 from the given information to complete this question. 18 19 Zepplin's Total Assets 20 Cash outlay (investment) 21 Floyd's Total Assets 22 Total Consolidated Assets 23 $470,000 -$44,000 $190,000 $616,000 24 c. What amount of total liabilities was reported in the consolidated balance sheet?