IV. Consolidation Subsequent to Acquisition (40 points) Pyroplex Corporation acquires all of the voting stock of Systembox Co. on January 1, 2015 at an acquisition value of $15,300. Systembox's trial balance at the date of acquisition is as follows, along with fair value information for its identifiable net assets: (in thousands) Current assets Systembox trial balance, January 1, 2015 Plant & equipment Patents Current liabilities Long-term liabilities Common stock Additional paid-in capital Retained earnings Total Book Value Dr (Cr) Fair Value Dr (Cr) $ 300 $ 300 5,000 2,000 0 8,500 (200) (200) (1,400) (1,300) (400) (2,000) (1,300) $ 0 Goodwill connected with this acquisition is $6,000. As of January 1, 2015, the revaluations have the following estimated lives (all straight-line): Plant & equipment Patents Goodwill.. Long-term liabilities.. 20 years 10 years Impairment to beginning of 2020: $200 Impairment in 2020: none 5 years Pyroplex uses the equity method to account for its investment in Systembox on its own books. The December 31, 2020 trial balances for Pyroplex and Systembox appear in the consolidation working paper provided. Fill in the consolidation working paper. Pyroplex Dr (Cr) Systembox Dr (Cr) Dr Cr Consol. Dr (Cr) Current assets $ 4,200 Plant & equipment, net Patents 260,000 $ 650 20,000 Investment in Systembox 18,600 Goodwill Current liabilities (11,300) (250) Long-term liabilities (152,850) (8,900) Common stock (4,000) (400) Additional paid-in capital (40,000) (2,000) Retained earnings, Jan. 1 (71,250) (7,300) Dividends 800 100 Sales revenue (25,000) (10,000) Equity in net income of Systembox (1,200) Cost of goods sold 15,000 6,000 Operating expenses 7,000 2,100 Total 0 $ 0 7