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Hi, can you show me how to answer the requirements here. Thank you! OIL also paid $35,000 to a broker for arranging the transaction. In

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Hi, can you show me how to answer the requirements here. Thank you!

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OIL also paid $35,000 to a broker for arranging the transaction. In addition, OIL paid $37,000 in stock issuance costs. ERS's equipment was actually worth $700,000, but its patented technology was appraised at only $285,000. Required: What are the consolidated balances for the year ended/at December 31, Year 5, for the following accounts? (a) Net income OIL's net income considered in the Consolidated Financial Statement (b) Retained earnings, 1/1/Year 5 OIL's retained earnings in the Financial statement for Consolidation $ (c) Equipment Value of equipment after acquisition $ (d) Patented technology Value of patent after acquisition -1. . .:1I(e) Goodwill Goodwill $ |:| (f) Liabilities Total liabilities after acquisition $ |:| (9) Common shares Total value of common shares after acquisition $ |:| (h) Non-controlling interests Total value of non-controlling interest after acquisition $ |:| The condensed financial statements for OIL Inc. and ERS Company for the year ended December 31, Year 5, follow: OIL ERS Revenues $ 915, 000 $ 310,000 Expenses 665, 000 205, 000 Net income $ 250, 000 105, 000 Retained earnings, 1/1/Year 5 $ 805,000 to 205, 000 Net income 250, 000 105,000 Dividends paid 95,000 Retained earnings, 12/31/Year 5 to 960, 000 to 310,000 Cash 85, 000 to 115, 000 Receivables and inventory 405, 000 175, 000 Patented technology (net) 905,000 307, 500 Equipment (net) 705, 000 605, 000 Total assets $2, 100, 000 $1, 202, 500 Liabilities $ 605,000 $ 417,500 Common shares 535,000 475,000 Retained earnings 960, 000 310,000 Total liabilities and equities $2, 100, 000 $1, 202, 500 On December 31, Year 5, after the above figures were prepared, OIL issued $221,000 in debt and 11,000 new shares to the owners of ERS for 80% of the outstanding shares of that company Oll shares had a fair value of $45 ner share

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