Consolidated Financial Statements One Year After Acquisition Ponon Corporation acquirce all of the stock of Santo Corporation on January 2, 2023, for $25,000,000 cash and debt. The book value of Santo's shareholders' equity was $10,000,000 and the resulting $15,000,000 excess of acquisition cont over book value was allocated as follows: Chapter 4 * Consolidated Financial Statements Subsequent to Acquiai The following are the financial statements of Ponon and Santo at December 31, 2023, Nicither compasy declared dividends in 2023. Ponon uses the complete equity method to report its investment in Santo on its own books. Required a. Prepare a schedule to compute the 2023 equity in net income of Santo. b. Use a working paper to consolidate the trial balances of Ponon and Santo at December 31, 2023. C. Prepare the December 31,2023 , consolidated balance sheet and 2023 consolidated statement of comprehensive income. Consolidated Financial Statements One Year After Acquisition Ponon Corporation acquirce all of the stock of Santo Corporation on January 2, 2023, for $25,000,000 cash and debt. The book value of Santo's shareholders' equity was $10,000,000 and the resulting $15,000,000 excess of acquisition cont over book value was allocated as follows: Chapter 4 * Consolidated Financial Statements Subsequent to Acquiai The following are the financial statements of Ponon and Santo at December 31, 2023, Nicither compasy declared dividends in 2023. Ponon uses the complete equity method to report its investment in Santo on its own books. Required a. Prepare a schedule to compute the 2023 equity in net income of Santo. b. Use a working paper to consolidate the trial balances of Ponon and Santo at December 31, 2023. C. Prepare the December 31,2023 , consolidated balance sheet and 2023 consolidated statement of comprehensive income