5. Larissa Company acquired Tara Inc. on January 1, 2016. On January 1, 2016 all of Tara's assets and abilities had fair values equal to book value except for the following land was undervalued by $30,000 buildings were overvalued by $45.000 120-year remaining useful life) equipment was undervalued by 590,000 15-vear remaining useful life) In addition, Tara had internally developed a customer list with an appraised value of $150,000 and a 10-year remaining useful life. Larissa originally acquired Tara at the fair value of its net identifiable assets that equaled $1,050,000 The following are selected accounts for Larissa Company and Tara, Inc. as of December 31, 2020 (Larissa Investment in Tara and Equity in Tara's Income accounts have been omitted). Credit balances are indicated by parentheses: Larissa Tara Revenues $ 1900,000) S (375,000) Cost of Goods Sold 420,000 150,000 Depreciation Expense 180,000 75.000 Retained Earnings, Beginning (1,350,000) (900,000) Dividends Paid 195,000 60,000 Current Assets 300,000 1,035,000 Land 450,000 135,000 Buildings (net) 750.000 210,000 Equipment (net) 300,000 375,000 Liabilities (600,000) (465,000) Common Stock (450,000) (60,000) Additional Paid-in Capital (75,000) (240,000) a.) Determine the proper December 31, 2020 consolidated totals for each of the following accounts (show your work/computations: Account SHOW YOUR WORK Consolidated Balance Dec. 31, 2020 Revenues Cost of Goods Sold Depreciation Expense Amortization Expense Buildings, net Equipment, net Customer List Common Stock Additional Paid-in Capital Assume Larissa uses the equity method and prepare consolidation entries for 2020. Account Title Debit Credit