Jaynes Inc. acquired all of Aaron Co.'s common stock on January I, 2017, by issuing 11,000 shares of SI par value common stock. Jaynes' shares had a $17 per share fair value. On that date, Aaron reported a net book value of S120,000. However, its equipment (with a five-year remaining life) was undervalued by $6,000 in the company's accounting records. Any excess of consideration transferred over fair value of assets and liabilities is assigned to an unrecorded patent to be amortized over ten years. The following figures came from the individual accounting records of these two companies as of December 31, 2017Aaton Co.276,000 144,000 Jaynes Inc S 720,000 528,000 Not given 00,000 Revenues Expenses Investment income Dividends paid 60,000 The following figures came from the individual accounting records of these two companies as of December 31, 2018 Aaron Co 336.000 180,000 Jaynes Inc Revenues Expenses Investment income Dividends paid Equipment Retained carnings, 12/31 18 balance 840,000 552,000 Not given 110,000 600,000 50,000 360,000 960.000 216000

A.What was the total for consolidated patents as of December 31, 2018?

B. What was consolidated equipment as of December 31, 2018?

C.What balance would Jaynes' Investment in Aaron Co. account have shown on December 31, 2018, when the equity method was applied for this acquisition?

D. What was consolidated net income for the year ended December 31, 2018?

Please provide solutions and answers