Consolidation Working Paper, Date of Acquisition Below are the precombination condensed balance sheets of Princecraft and Sylvan Companies just prior to Princecraft's acquisition of 90 percent of the voting shares of Sylvan for $43 million in cash. The book values of Sylvan Company's net assets approximate fair value. The noncontrolling interest in Sylvan has a fair value of $4,250,000. Cash Other current assets Property and equipment, net Total assets Total liabilities Common stock Additional paid-in capital Retained earnings Total liabilities and equity Princecraft Sylvan Company Company $60,000,000 $2,000,000 20,000,000 8,000,000 70,000,000 15,000,000 $150,000,000 $25,000,000 Required a. Calculate total goodwill and its allocation to the controlling and noncontrolling interests. Enter answers in thousands. For example, $43,000,000 is $43,000 (in thousands) Total goodwill $ Allocation to controlling interests $ Allocation to noncontrolling interests $ . $30,000,000 $8,000,000 15,000,000 5,000,000 45,000,000 10,000,000 60,000,000 2,000,000 $150,000,000 $25,000,000 b. Prepare the consolidation working paper at the date of acquisition. Enter answers in thousands ($2,000,000 equals $2,000 (in thousands). Use negative signs with your answers in the "Dr (Cr)" columns to indicate a credit balance, when appropriate. 0 0 0 0...0.41 PM

c. Prepare the consolidated balance sheet at the date of acquisition, in good form. - Enter answers in thousands ( $38,000,000 equats $38,000 (in thousands). - Do not use negative signs with any of your answers. c. Prepare the consolidated balance sheet at the date of acquisition, in good form. - Enter answers in thousands ($38,000,000 equals $38,000 (in thousands). - Do not use negative signs with any of your answers. Contolidation Working Paper, Date of Acquisition. a. Calculate todal goodwill and is abocation to the controling end noncontroling interests. 6. Prepare the conolidaton workins poper at the date of arquilition