determine the consolidated balance for each of the following accounts as of december 31 2018

Goodwill

Equipment(net)

Common Stock

Building(net)

Dividends declared

Help Save& Exit Su Check my wo Following are the individual financial statements for Gibson and Davis for the year ending December 31, 2018: $ (758,000) (381,500) Cost of goods sold 148,000 372,000 252,000 (18,0 63,s00 (152,000) (170,000) Dividend income Net income 00,00-- (152,000) 80,000 (780,000) $ 42,300 $ 568,000 566,700 596,000 483,000 (447,000) (170,000) 30,000 (587,000) 70,000 225,000 Retained earninge, 12/31/1e Inventory 690,000 456,000 s 1,441,000 (846,000) (514,000) Equipment (net) 2,256,000 Common stock Retained earnings, 12/31/18 630,000) (780,000) 587,000 Total 1iabilities and s (2,256,000) (,441,000) olders' equity Gibson acquired 60 percent of Davis on April 1, 2018, for $566,700. On that date, equipment owned by Davis (with a five-year remaining life) was overvalued by $45,000. Also on that date, the fair value of the 40 percent noncontrolling interest was $377,800. Davis earned income evenly during the year but declared the $40,000 dividend on November 1, 2018 a. Prepare a consolidated income statement for the year ending December 31, 2018. b. Determine the consolidated balance for cach of the following accounts as of December 31, 2018: Prev 1 of 1 Next r 31, 2018. b. Determine the consolidated balance for each of the following accounts as of December 31, 2018: Equipment (net) Common stock Buildings (net) Determine Bu (net)