Could someone help with Parts A, B, C, and D?
On January 3,2019 , Persoff Corporation acquired all of the outstanding voting stock of Sea Cliff, Inc., in exchange for $8,771,000 in cash. Persoff elected to exerclse control over Sea Cliff as a wholly owned subsidlary with an independent accounting system. Both companies have December 31 fiscal year-ends. At the acquisition date, Sea Cliff's stockholders' equity was $2,593,500 including retained earnings of $1,793,500. Persoff pursued the acquisition, in part, to utilize Sea Cliff's technology and computer software. These items had fair values that differed from their values on Sea Cliff's books as follows: Sea Cliff's remaining identifiable assets and llabilities had acquisition-date book values that closely approximated fair values. Since acquisition, no assets have been impaired. During the next three years, Sea Cliff reported the following income and dividends: December 31, 2021, financial statements for each company follow. Parentheses indicate credit balances. Dividends declared were pa in the same period. Note: Parentheses indicate a credit balance. a. Determine the fair value in excess of book value for Persoff's acquisition date investment in Sea Cliff. o. Determine Persoff's Equity earnings in Sea Cliff's balance for the year ended December 31, 2021. c. Determine Persoff's December 31, 2021, Investment in Sea Cliff's balance. . Prepare a worksheet to determine the consolidated values to be reported on Persoff's financial statements. Complete this question by entering your answers in the tabs below. Determine the fair value in excess of book value for Persoff's acquisition date investment in Sea Cliff. Determine Persoff's Equity earnings in Sea Cliff's balance for the year ended December 31,202 Determine Persoff's December 31, 2021, Investment in Sea Cliff's balance