Just answer D (consolidated Worksheet)

On January 3, 2016 Persoff Corporation acquired all of the outstanding voting stock of Sea Clit Inc in exchange for S8.934 000 in cash. Persoff elected to exercise control over Sea Cli companies have December 31 fiscal year ends. At the acquisition date. Sea Cliff's stockholders' equity was $2.599,000 including retained earnings of $1,799,000 iff as a wholly owned subsidiary with an independent accounting system. Both 0 oints Persoff pursued the acquisition, in part, to utilize Sea Cliff's technology and computer software. These items had fair values that differed from their values on Sea Cliff's books as follows: eBook Remaining Useful Zife 7 years 12 vears References Book Value Patented technology Computer software Fal: Valae s 185,000 2, 915, 000 87,000 3,447,000 Sea Clif's remaining identifiable assets and liabilities had acquisition-date book values that closely approximated fair values. Since acquisition, no assets have been impaired During the next three years, Sea Ciff reported the following income and dividends Net 2016 2017 2018 901, 800 941,800 976, 800 ividends s 150,000 150,000 150,000 December 31, 2018, financial statements for each company appear below. Parentheses indicate credit balances. Dvidends were paid in the same oeriod