In 2022, Little reported earnings of $30,000 and paid dividends of $10,000 In 2023 Little reported earnings of $40,000 and paid dividends of $15,000. The trial balances for 1/1/22,12/31/22, and 12/31/23 are given below. Required: Prepare elimination entries at 1/1/22 and complete the "Consolidation at acquisition" (1/1/22) worksheet 1. Prepare elimination entries at 1/1/22 and complete the "Consolidation at acquisition" (1/1/22) worksheet 2. Prepare elimination entries at 12/31/23 and complete the "Consolidation at acquisition" (12/31/23) worksheet 3. Prepare elimination entries at 12/31/22 and complete the "Consolidation at acquisition" (12/31/22) worksheet You HAVE to "work down" the Big and Little columns in the 12/31/22 worksheet to get the ending R/E values to plug into the 12/31/23 worksheet! Questions: What is the value in cell F37 ? What is the value in cell F45 ? What is the value in cell M26? What is the value in cell M27? What is the value in cell M29? What is the value in cell M32 What is the value in cell M37? What is the value in cell M45? December 31, 2022 What is the value in cell Q29? What is the value in cell T26? What is the value in cell T45? \begin{tabular}{|l|r|r|l|l|l|} \hline & Big & Little & dr & cr & Consol. \\ \hline Sales & 300000 & 250000 & & & \\ \hline Expenses & 250000 & 220000 & & & \\ \hline Investment income & 30000 & & & & \\ \hline Net income & 80000 & 30000 & & & \\ \hline & & & & & \\ \hline Beginning R/E & 200000 & 150000 & & & \\ \hline Add: Income & & & & & \\ \hline Less: Dividends & 20000 & 10000 & & & \\ \hline Ending R/E & & & & & \\ \hline & & & & & \\ \hline Cash & 35000 & 22000 & & & \\ \hline Receivables & 36000 & 27000 & & & \\ \hline Inventory & 40000 & 42000 & & & \\ \hline Investment in Little & 220000 & & & & \\ \hline PPE, net & 250000 & 240000 & & & \\ \hline Patents & 25000 & 15000 & & & \\ \hline Other assets & 64000 & 74000 & & & \\ \hline & & & & & \\ \hline Accounts payable & 60000 & 50000 & & & \\ \hline Bonds payable & 200000 & 150000 & & & \\ \hline Common Stock & 150000 & 50000 & & & \\ \hline Retained earnings & & & & & \\ \hline \end{tabular} December 31, 2023 \begin{tabular}{|l|r|r|l|l|l|} \hline & Big & Little & dr & cr & Consol. \\ \hline Sales & 300000 & 280000 & & & \\ \hline Expenses & 250000 & 240000 & & & \\ \hline Investment income & 40000 & 0 & & & \\ \hline Net income & 90000 & 40000 & & & \\ \hline & & & & & \\ \hline Beginning R/E & & & & & \\ \hline Add: Income & & & & & \\ \hline Less: Dividends & 20000 & 15000 & & & \\ \hline Ending R/E & & & & & \\ \hline & & & & & \\ \hline Cash & 40000 & 30000 & & & \\ \hline Receivables & 45000 & 35000 & & & \\ \hline Inventory & 50000 & 35000 & & & \\ \hline Investment in Little & 245000 & & & & \\ \hline PPE, net & 240000 & 230000 & & & \\ \hline Patents & 20000 & 10000 & & & \\ \hline Other assets & 40000 & 40000 & & & \\ \hline & & & & & \\ \hline Accounts payable & 40000 & 35000 & & & \\ \hline Bonds payable & 160000 & 100000 & & & \\ \hline Common Stock & 150000 & 50000 & & & \\ \hline Retained earnings & & & & & \\ \hline \end{tabular} January 1,2022
