1.prepare the consolidation worksheet entries for December 31, 2021.

2. Prepare the consolidation worksheet entries for December 31, 2022 assuming during 2022 Sierra reports net income of 200,000 and paid dividends of 70,000

1. for $802,720 cash. At the acquisition date, Sierra's total fair value, including the noncontrolling interest, was assessed at inancial records had fair values that differed from their book values as follows: The following account balances are for the year ending December 31, 2021, for both companies