5. Elton acquired Marylyn on January 1, 2014 by issuing shares of common stock. On January 1, 2014 all of Marylyn's assets and liabilities had fair values equal to book value except for the following: land was undervalued by $20,000 buildings were undervalued by $300,000 (20-year remaining useful life) equipment was overvalued by $60,000 (6-year remaining useful life) In addition, Marylyn had internally developed a customer list with an appraised value of $200,000 and a 10-year remaining useful life. Assume Elton originally acquired Marylyn at the fair value of its net identifiable assets, which was $810,000 at the date of acquisition. Marylyn's Retained Earnings balance at the date of acquisition was $150,000. The following are selected accounts for Elton Company and Marylyn, Inc. as of December 31, 2018 (Elton's investment in Marylyn and Equity in Marylyn's Income accounts have been omitted). Credit balances are indicated by parentheses Elton Marylyn (450,000) 200,000 150,000 $ (600,000) Revenues Cost of Goods Sold Depreciation Expense Retained Earnings, 1/1/18 Dividends Paid Current Assets Land 280,000 120,000 130,000 600,000 300,000 500,000 200,000 350,000) 200 40,000 690 90,000 140,000 250,000 Buildings (net) Equipment (net) Common Stock Additional Paid-in Capital(80,000) Liabilities 310,000 (160,000) a.) Determine the proper December 31, 2018 consolidated totals for each of the following accounts (show your work/computations: Account Consolidated Balance Dec. 31, 2018 Your work or explanation Cost of Goods Sold Depreciation Expense Amortization Expense Buildings, net Equipment, net Customer List Common Stock Additional Paid-in Capital