Consolidation Subsequent to Date of Acquisition-Cost Method Assume a parent company acquired, for $350,000,100% of the outstanding voting common stock of a subsidiary on January 1,2019 . The purchase price was $50,000 in excess of the subsidiary's $300,000 book value of Stockholders' Equity on the acquisition date, and that excess was assigned to a portfolio of licenses that have $0 pre-acquisition book value and an average useful life of 10 years. On the acquisition date, the subsidiary's retained earnings account was equal to $150,000. The parent company applies the cost method of pre-consolidation Equity Investment bookkeeping. The parent and subsidiary financial statement information for the year ending December 31,2022 follows: Required Prepare the consolidation spreadsheet. Note: The label for consolidation step has been provided if there is more than one debit or credit adjustment to the account. Alata. Mant all aneinar fialde will ho iead lawioniead aneinar fialde hlanl Consolidation Subsequent to Date of Acquisition-Cost Method Assume a parent company acquired, for $350,000,100% of the outstanding voting common stock of a subsidiary on January 1,2019 . The purchase price was $50,000 in excess of the subsidiary's $300,000 book value of Stockholders' Equity on the acquisition date, and that excess was assigned to a portfolio of licenses that have $0 pre-acquisition book value and an average useful life of 10 years. On the acquisition date, the subsidiary's retained earnings account was equal to $150,000. The parent company applies the cost method of pre-consolidation Equity Investment bookkeeping. The parent and subsidiary financial statement information for the year ending December 31,2022 follows: Required Prepare the consolidation spreadsheet. Note: The label for consolidation step has been provided if there is more than one debit or credit adjustment to the account. Alata. Mant all aneinar fialde will ho iead lawioniead aneinar fialde hlanl