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b lem 2-10 (LO 3, 4, 5, 6, 7) 80% purchase goodwill worksheet. Use the rion for Palto's purchase of Salcen common stock Assume Palto

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b lem 2-10 (LO 3, 4, 5, 6, 7) 80% purchase goodwill worksheet. Use the rion for Palto's purchase of Salcen common stock Assume Palto purchase information for Palto's purchase of Sa mmon stock for $400,000 cash. The shares of the non controlling, inter $ each. Palto has the following balance sheet immediately after the p worksheet. Use the preceding ne Palto purchases 80% of the oncontrolling interest have a fair diately after the purchase: value of $46 each. Palto has the follow Palto Company Balance Sheet January 1, 2015 Assets $ Liabilities and Equity Current liabilities ............. Bonds payable ... Common stock ($1 par.. Paid-in capital in excess of par.. Retained earnings..... 80,000 200,000 20,000 180,000 546,000 Cash .... . Accounts receivable .......... Inventory. Investment in Saleen .......... Lond.......... Buildings ....... Accumulated depreciation .... Equipment ......... Accumulated depreciation ..... Total assets..... $ 161,000 65,000 80,000 400,000 100,000 250,000 (80,000) 90,000 (40,000) $1,026,000 $1,026,000 Total liabilities and equity ..... Requi 1. Prepare the value analysis schedule and the determination and distribution of excess schedule for the investment in Saleen. 2. Complete a consolidated worksheet for Palto Company and its subsidiary Saleen Company as of January 1, 2015

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