Following are the individual finoncial statements for Gibson and Dovis for the year ending December $31,2024$:

Gibson scquired $60$ percent of Davis on April $1,2024,$ for $$622,050.$ On that date, equipment owned by Dovis $($with a five$-$year

remaining life$)$ was overvalued by $$54,000.$ Also on that dete, the fair value of the $40$ percent noncontrolling interest w$/$ss $$414,700.$

Dovis earned income evenly during the year but declored the $$20,000$ dividend on November $1,2024.$

Required:

a$.$ Prepore $$ consolidsted income ststement for the year ending December $31,2024.$

b$.$ Determine the consolidsted balance for each of the following accounts os of December $31,2024$;

Goodwill

Equipment $($ Elets

Common stock

Buildings $(n=t$ t$)$

Dividends declared

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Required $B$

Determine the consolidated balance for each of the following accounts as of December $31,2024$: