Assuming the FC is Sorenson's functional currency, prepare a consolidated worksheet.

he sales proceeds from the disposition of assets Wer acquired on January 1, 2015 and 58,000 FC for the assets acquired 120,000 FC for the assets June 30, 2016. The patent amortization is tracecable to a patent that was acquired June 30, 2016, and is being amortized over 12 years by che traighs line medhod. on on Relevant exchange rates are as follows: January 1, 2015 April 30, 2016 June 30, 2016. March 31, 2017... 1 FC 2016 Average 1 FC $1.40 1 FC 1.4l 1 FC 1,38 C-$1.32 1F 135 1.34 SC 1.35 FC 1.32 FC1.31 December 31, 0 Fourth ouatter 201occt First aucer 2017 Second quarier 2012 Third quarter 2017 Fourth quarter 2017 average 1.36 1 FC 1,42 1 FC 1.35 2017 Average. 1, Given the preclosing trial balance for the vear ended 2017 as it relates to sharcholders' equity of Mofoco, calculate the remeasured U.S. dollar values. 2. Calculate the amount of 2017 consolidated net income that is traceable to the noncontrol- ling interest. Problem 11-3 (LO 3, 5) Translate a trial balance and prepare a consolidation worksheet with excess of cost over book value traceable to equipment. Due to increasing pressures to expand globally, Pueblo Corporation acquired a 100 % interest in Soren- Company, a foreign company, on January 1, 2016. Pueblo paid 12,000,000 FC, and Soren- son's equity consisted of the following: son 3,000,000 FC Common stock 2,000,000 4,200,000 Paid-in capital in excess of par Retained earnings 9,200,000 FC Total. On the date of acquisition, equipment with a 10-year life was undervalued by 500,000 FC. Any remaining excess of cost over book value is attributable to additional equipment with a 20-year life. The trial balances for Pueblo and Sorenson as of December 31, 2018, are as follows Sorenson Company Pueblo Corporation 2,840,000 FC 3,990,000 5,800,000 4,050,000 5,270,000 5,540,000 20,969,000 21,000,000 (12,560,000) (3,450,000) (10,000,000) (4,000,000) (6,500,000) 12,180,000) Cash Accounts Receivable Inventory Investment in Sorenson Fixed Assets 15,000,000 (6,800,000) 1,580,000 (5,000,000) (3,000,000) (2,000,000) 17,950,000) Accumulated Depreciation Accounts Payable Long-Term Debt Common Stock Paid-in Capital in Excess of Par Retained Earnings, January 1, 2018. Part 2 MULTINATIONAL ACCOUNTING AND OTHER REPORTING CONCERNS 650 (10,000,000) 7,500,000 1,200,000 (26,000,000) 16,380,000 3,210,000 (1,729,000) Sales Cost of Goods Sold Operating Expenses Subsidiary Income 0 FC C Totals.. The investment in Sorenson consists of the following: $14,400,000 2,240,000 2,600,000 1,729,000 Initial investment (12,000,000 FC x $1.20) 2016 Income (1,750,000 FC x $1.28). 2017 Income (2,000,000 FC x $1.30). 2018 Income. $20,969,000 Total.... Relevant exchange rates are as follows: 1 FC= $1.20 January 1, 2016 2016 Average. 1.28 1.25 January 1, 2017 2017 Average. 1.30 1.31 December 31, 2018 1.33 2018 Average. Assuming the FC is Sorenson's functional currency. prepare a consolidated worksheet. Required Problem 11-4 (LO 3, 5) Translation and elimination entries. On October 1, 2013. imben the