Company A pald $$85$ million on January $2$ of the current year for $4$ million shares of Company B$\text{'}$s common stock. The Investment

represents a $30\%$ Interest In the net assets of Company B and gave Company A the ability to exercise significant Influence over

Company B$\text{'}$s operations. Company A recelved dividends of $$2$ per share on December $21$ of the current year, and Company B

reported net Income of $$50$ million for the year ended December $31$ of the current year. The falr value of Company B$\text{'}$s common stock

at December $31$ of the current year was $$26\mathrm{.}50$ per share.

The book value of Company B$\text{'}$s net assets was $$200$ million.

The falr value of Company B$\text{'}$s depreclable assets exceeded thelr book value by $$40$ million. These assets had an average

remaining useful IIfe of twelve years.

The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to

goodwill.

Required:

Complete the table below and prepare the approprlate journal entrles related to the Investment during the current year..

Complete this question by entering your answers in the tabs below.

Complete the table below.

Note: Enter your answers in millions, $($i$.$e$.,10,000,000$ should be entered as $10).$