for changes in consolidated current asset and current liability accounts. OBLEMS. Consolidation Working Paper, Date of Acquisition On July 1, 2016, The Hershey Company Lo acquired 75 percent of the common stock of Bagota Organic Chocolates. The $1.2 billion purchase price was paid in cash and newly-issued debt securities. The acquisition entry is reflected below in the two companies' balance sheets just after the acquisition. Balance Sheets at July 1, 2016 Hershey Bagota (in millions) Assets Current assets Property, plant and equipment, net S 325 1,600 . . 1,200 1,300 $5,600 600 75 $1,000 Total assets . Liabilities and Stockholders' Equity Current liabilities. Long-term liabilities Common stock, par value Additional paid-in capital Retained earnings Treasury stock Accumulated other comprehensive income (loss) Total liabilities and stockholders' equity 300 1,950 3,900 (4,000) (50) $5,600 $ 100 400 10 200 300 (10) $1,000 Independent appraisals produced the following fair value estimates for certain of Bagota's previously recorded assets and liabilities. In addition, previously unreported customer-related intangibles have an estimated fair value of $30 million. Bagota's noncontrolling interest has an estimated fair value of $375 million Fair value Book value $600 400 in millions) Property, plant and equipment, net.... Patents and trademarks. $400 120 375- Long-term liabilities Required a. Prepare a schedule to compute the total goodwill and its allocation to the controlling and noncontrol- ling interest. b. Prepare a working paper to consolidate the balance sheets of Hershey and Bagota at July 1,2016. e Prepare a formal consolidated balance sheet for Hershey and Bagota at July 1, 2016. Consolidated Balance Sheet Working Paper, Date of Acquisition, Bargain Purchase (see related P3.4) On January 1,2016, Paxon Corporation acquired 80 percent of the outstanding common