L.02, 3 The following are the balance sheet and income statement data for two affiliated companies for Yo. CMAPTER 5 Consolidation Subsequent to Acquisition Date Additional Information - Albeniz acquired an 90% interest in Bach on Janue Goodwill was valued at $30,000 at December 31 , Year 5 and at zero at December 31 , Year 6. - Amortization expense is grouped with distribution expenses. Bach's accumulated depreciation was $240,000 at the date of acquisition. - On January 1, Year 3, Bach had a retained earnings balance of $40,000. - Albeniz carries its investment at cost. Required Prepare the following: (a) Consolidated income statement (b) Consolidated balance sheet