1/1/2016 Pueblo paid 12,000,000 FC to buy 80 % ownership of Sorenson, where Sorenson has total equity of 9,200,000 FC (CS: 3m, APIC: 2m, and R/E 4.2 m). The excess of fair value over cost consists of 3,200,000 FC equipment (10 years) and 3,000,000 FC other equipment (20 years). Sorenson has net income 1,750,000 FC and 1,000,000 FC for 20X6 and 20X7, respectively. Complete the consolidated financial statements after finding a worksheet in a separate attachment

1/1/20X6 1FC = $1.2 20X6 average 1FC = $1.28

1/1/20X7 1FC = $1.25 20X7 average 1FC = $1.3 1

2/31/20X8 1FC = $1.31 20X8 average 1FC = $1.33