Hello, I need help preparing a consolidated balance sheet with the information below. Please make sure you show work. Thank you in advance!

BUS-FP4063 DyalMichael Assessment Excel Tell me what you want to do File Home Insert Page Layout Formulas Data Review view dx cut General Co Conditional Format as B I U e Center Format Painter Table Clipboard Fon Alignment Number X End of Worksheet A77 1 Assessment 1: Accounting for Equity Investments 2 Exercise 2 Worksheet: Consolidated Balance Sheet On December 31, 2015, the Penn Corporation purchased all of Southern Company's outstanding shares for S990,000 in cash. Penn will operate Southern as a wholly-owned subsidiary that has a separate legal and accounting identity. Many of Southern's book values approximate fair values, but the fair values of some accounts differ from the book values. Additionally, Southern is carrying unrecorded, internally developed assets on its books. In determining the purchase price, Penn evaluated the differences between Southern's fair values and its book values, as shown in the table below. 4 Table 1: Southern's Fair Values and Book Values 5 Account Book Values Fair Values 6 Computer software 40,000 S 140,000 S 80.000 S 60,000 7 Equipment S 8 Client contracts 200.000 In-process research and g development 80,000 120,000) (130,000) 10 Notes payable 11 The financial information available for consolidation, as of December 31, 2015, is shown in the table below. 12 Table 2: Financial Information Available for Consolidation Exercise 1 NotesToMyself ournal entries Exercise 2 Exercise 3 Edit Word 2016 Ask me anything Sign in 2 Autosu Format Find & Clear Select Editing 22 AM A 3/21/2017 share