Consolidated Balance Sheet Working Paper, Bargain Gain, Special issues Packard industries acquires all of the srock of Steamobile Company for $40 million in cash, and reports the acquisition as a stock acquisition on its own books. The balance sheet accounts of Packard and Steamobile, immediately prior to the acquisition, are as follows in thousandsk Steamobile has previocisly unreported identifiable intangibles with a fair value of $12 millon that are separatefy capitailized per Asc Topic 805 . a. Prepare a schedule calculating the excess of Steamobile's book value over acquisition cost, its allocation to steamobiles identifiable net assets, and the amount of the bargain gain. - When appropriate, use negative signs with your excess of fair value over book value answers (left column only). - Do notuse negative signs with answers in the right column. - Enter answers in thousands. b. Prepare a consolidation working paper to consolidate.Packard and Steamobile at the date of acquisition. - Use negative signs with your credit balance answers in the Dr (Cr) columns: - Enter answers in thousands. c. Prepare the consolidated balance sheet at the date of acquisition, - Do not use negative signs with any of your answers beiow. - Enter answers in thousands. Pease answeral parts of the question. Consolidated Balance Shect Working Paper, Bargain Gain, 5 pecial Issues Packard industries acquires all of the stock of steamobile Company for 540 million in cash, and reports the acquisition as a stock acquisition on its own books. The balance sheet accounts of Packard and Steamobile. immediatelu nrion to the acquisition, are as follows (in thousand's) Stesmobile has previously unreported identifiable intangibles with a faif value of 512 million that are separately capitallzed per A5C Topic 805. a. Prepare a schedule calculating the excess of Steamobile's book value over acquntion cost, its allocation to Steamobiles identifiable net assets, and the ainburit of the biargain gain. (1) a. Prepare a schedule calculating the excess of Steamobile's book value over acquistion cost its allocation to steamobiles idertifiable net assets and the amount of the bargain gain. - When appropriate, use negative signs with your excess of fair value over book value answers (laft column only). - Do not use negative signs with answers in the right column. - Enter answersin thousands. ind steamobile at the date of acqusition. b. Prepare a consolidation working paper to consolidate Packard and Steamobile at the date of acquisition. - Use negative signs with your credit balance answers in the Dr (Cr) columns. - Enter answers in thousands. c. Prepare the consolidated balance sheet at the date of acquisition. - Do not use negative signs with any of your answers below. - Enter answers in thousands. Consolidated Balance Sheet Working Paper, Bargain Gain, Special issues Packard industries acquires all of the srock of Steamobile Company for $40 million in cash, and reports the acquisition as a stock acquisition on its own books. The balance sheet accounts of Packard and Steamobile, immediately prior to the acquisition, are as follows in thousandsk Steamobile has previocisly unreported identifiable intangibles with a fair value of $12 millon that are separatefy capitailized per Asc Topic 805 . a. Prepare a schedule calculating the excess of Steamobile's book value over acquisition cost, its allocation to steamobiles identifiable net assets, and the amount of the bargain gain. - When appropriate, use negative signs with your excess of fair value over book value answers (left column only). - Do notuse negative signs with answers in the right column. - Enter answers in thousands. b. Prepare a consolidation working paper to consolidate.Packard and Steamobile at the date of acquisition. - Use negative signs with your credit balance answers in the Dr (Cr) columns: - Enter answers in thousands. c. Prepare the consolidated balance sheet at the date of acquisition, - Do not use negative signs with any of your answers beiow. - Enter answers in thousands. Pease answeral parts of the question. Consolidated Balance Shect Working Paper, Bargain Gain, 5 pecial Issues Packard industries acquires all of the stock of steamobile Company for 540 million in cash, and reports the acquisition as a stock acquisition on its own books. The balance sheet accounts of Packard and Steamobile. immediatelu nrion to the acquisition, are as follows (in thousand's) Stesmobile has previously unreported identifiable intangibles with a faif value of 512 million that are separately capitallzed per A5C Topic 805. a. Prepare a schedule calculating the excess of Steamobile's book value over acquntion cost, its allocation to Steamobiles identifiable net assets, and the ainburit of the biargain gain. (1) a. Prepare a schedule calculating the excess of Steamobile's book value over acquistion cost its allocation to steamobiles idertifiable net assets and the amount of the bargain gain. - When appropriate, use negative signs with your excess of fair value over book value answers (laft column only). - Do not use negative signs with answers in the right column. - Enter answersin thousands. ind steamobile at the date of acqusition. b. Prepare a consolidation working paper to consolidate Packard and Steamobile at the date of acquisition. - Use negative signs with your credit balance answers in the Dr (Cr) columns. - Enter answers in thousands. c. Prepare the consolidated balance sheet at the date of acquisition. - Do not use negative signs with any of your answers below. - Enter answers in thousands