BUCCANEER CO. OBTAINED ALL OF THE COMMON STOCK OF DOLPHIN CO. ON JANUARY 1, 2023 AND DOLPHINE WAS NOT LIQUIDATED. AS OF THAT DATE, DOLPHIN CO. HAD THE FOLLOWING TRIAL BALANCE:

	DEBIT	CREDIT
ACCOUNTS PAYABLE		245,000
ACCOUNTS RECEIVABLE	175,000
ADDITIONAL PAID IN CAPITAL		150,000
BUILDING-NET (50 YEAR LIFE)	350,000
CASH	225,000
COMMON STOCK		300,000
EQUIPMENT-NET (10 YEAR LIFE)	410,000
INVENTORY	265,000
LAND	145,000
LONG-TERM LIABILITIES		325,000
RETAINED EARNINGS, 1/1/2023		605,000
SUPPLIES INVENTORY	55,000
TOTALS	1,625,000	1,625,000

ANY EXCESS OF COST OVER FAIR MARKET VALUE IS DUE TO AN UNAMORTIZED PATENT TO BE AMORTIZED OVER 10 YEARS. (NOTE: THERE IS NO GOODWILL)

DURING 2023, DOLPHIN REPORTED NET INCOME OF $156,000 WHILE PAYING DIVIDENDS OF $42,000. ASSUME THAT BUCCANEER CO. ACQUIRED THE COMMON STOCK OF DOLPHINE CO. FOR $1,300,000 IN CASH. AS OF JANUARY 1, 2023, DOLPHIN'S LAND HAD A FAIR VALUE OF $180,000, ITS BUILDINGS HAD A FAIR VALUE OF $480,000, AND ITS EQUIPMENT HAD A FAIR VALUE OF $380,000. BUCCANEER DECIDED TO USE THE EQUITY METHOD OF ACCOUNTING FOR THIS INVESTMENT ON ITS BOOKS.

1-PREPARE A SCHEDULE SHOWING THE BREAKDOWN OF THE PURCHASE PRICE AND ANNUAL AMORTIZATION

2-PREPARE THE FIVE CONSOLIDATION WORKSHEET ENTRIES (SAIDE) FOR DECEMBER 31, 2023.