20) On January 1, 2021, Bear Co exchanged $3,050,000 cash for 100% of the outstanding voting stock of Cub Co. Bear plans to maintain Cub as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Bear prepared the following fair-value allocation schedule: Consideration transferred for Cub $3,050,000 Cub's carry amount $2,300,000 Less: Cub's pre-existing goodwill ($75,000) Identifiable net assets carrying amount $2.225.000 Excess consideration transferred over carrying amount of identifiable net assets $825,000 to Cub's patents (undervalued) $800.000 to new Goodwill from Cub's acquisition (indefinite life) $2.5.000 Immediately after closing the transaction, Bear and Cub prepared the following post-acquisition balance sheets from their separate financial record Accounts Bear Co. Cub Co. Cash S 245,000 S 1 10,000 Accounts Receivable 1,830,000 360,000 Inventory 3,500,000 280,000 Investment in Cub 3.050,000 Patents 7,000,000 1,000.000 Trademarks 3,200,000 Goodwill 150,000 75,000 Total Assets 15,755,000 5,025,000 Accounts Payable (100,000) (515,000) Long-Term Debt (4,300,000) (2,210,000 Common Stock (5,000,000) (1,000,000) Additional Paid-In Capital o (200,000) Required: Use the provided file "Consolidation Worksheet #20" to prepare an acquisition-date consolidated balance sheet for Bear Co and its subsidiary Cub Co