Complete Ehis quentios bre entering your answers in the bobs laeiow. On January 1, 2020, Prestge Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2.320,500 in cash and securities. On the acquisition date, Stylene had the following balance sheet At the acquisition date, the book values of Stylene's assets and liabilities were generally equivalent to their fair values except for the following assets: During the next two years, Stylene has the following income and dividends in its own separately prepared financial reports to its parent. Dividends are declared and paid in the same period. The December 31,2021 , separate financial statements for each compary follow. Parentheses indicate credit balances. a. Determine the fair value in excess of book value for Prestige's acquisition date investment in Stylene. b. Determine Prestige's December 31, 2021, Imvestment in Stylene balance. c. Prepare a worksheet to determine the balances for Prestige's December 31, 2021, consolidated financiat statements. Reminder. consolidation adjustments should be recorded as positive values and final totols in the Consolidated column should also be presonted as posithe values - unlike the first two columns of parent and subsidiary book values which present credit balances as a negative value. Complete Ehis quentios bre entering your answers in the bobs laeiow. On January 1, 2020, Prestge Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2.320,500 in cash and securities. On the acquisition date, Stylene had the following balance sheet At the acquisition date, the book values of Stylene's assets and liabilities were generally equivalent to their fair values except for the following assets: During the next two years, Stylene has the following income and dividends in its own separately prepared financial reports to its parent. Dividends are declared and paid in the same period. The December 31,2021 , separate financial statements for each compary follow. Parentheses indicate credit balances. a. Determine the fair value in excess of book value for Prestige's acquisition date investment in Stylene. b. Determine Prestige's December 31, 2021, Imvestment in Stylene balance. c. Prepare a worksheet to determine the balances for Prestige's December 31, 2021, consolidated financiat statements. Reminder. consolidation adjustments should be recorded as positive values and final totols in the Consolidated column should also be presonted as posithe values - unlike the first two columns of parent and subsidiary book values which present credit balances as a negative value
