Mid-year acquisition - Answers needed for Highlighted Cells.

On 4/1/21, Big acquired 80% of Little's voting stock for $200,000. The fair value of the NC Interest on that date was $50,000

All of Little's assets and liabilities had fair values equal to book value, so any differential is ascribed to goodwill.

Little had the following trial balance on that date: Cash & Receivables PPE Liabilities Common Stock Retained earnings Sales Cost of goods sold Other expenses Dividends declared 40,000.00 320,000.00 130,000.00 50,000.00 160,000.00 240,000.00 150,000.00 60,000.00 10,000.00 By the end of the year, Little reported total annual earnings of $100,000 and paid total annual dividends of $25,000 The end of year trial balances, arranged in worksheet format, are: Big cr Little dr 450,000.00 450,000.00 240,000.00 350,000.00 260,000.00 150,000.00 50,000.00 90,000.00 56,000.00 106,000.00 100,000.00 20,000.00 Consolidated 660,000.00 460,000.00 140,000.00 Sales Less: COGS Less: other expenses Investment income Net income Less: Income to NC Interest Income to controlling interest 60,000.00 80,000.00 230,000.00 60,000.00 Beginning R/E Add: Income Less: Dividends Ending R/E 230,000.00 160,000.00 160,000.00 106,000.00 100,000.00 30,000.00 25,000.00 306,000.00 235,000.00 Cash and receivables Investment in Little PPE Goodwill 50,000.00 40,000.00 244,000.00 250,000.00 300,000.00 Liabilities CS R/E NC Interest 138,000.00 55,000.00 100,000.00 50,000.00 306,000.00 235,000.00 544,000.00 340,000.00 544,000.00 340,000.00 Little had the following trial balance on that date: Cash & Receivables PPE Liabilities Common Stock Retained earnings Sales Cost of goods sold Other expenses Dividends declared 40,000.00 320,000.00 130,000.00 50,000.00 160,000.00 240,000.00 150,000.00 60,000.00 10,000.00 By the end of the year, Little reported total annual earnings of $100,000 and paid total annual dividends of $25,000 The end of year trial balances, arranged in worksheet format, are: Big cr Little dr 450,000.00 450,000.00 240,000.00 350,000.00 260,000.00 150,000.00 50,000.00 90,000.00 56,000.00 106,000.00 100,000.00 20,000.00 Consolidated 660,000.00 460,000.00 140,000.00 Sales Less: COGS Less: other expenses Investment income Net income Less: Income to NC Interest Income to controlling interest 60,000.00 80,000.00 230,000.00 60,000.00 Beginning R/E Add: Income Less: Dividends Ending R/E 230,000.00 160,000.00 160,000.00 106,000.00 100,000.00 30,000.00 25,000.00 306,000.00 235,000.00 Cash and receivables Investment in Little PPE Goodwill 50,000.00 40,000.00 244,000.00 250,000.00 300,000.00 Liabilities CS R/E NC Interest 138,000.00 55,000.00 100,000.00 50,000.00 306,000.00 235,000.00 544,000.00 340,000.00 544,000.00 340,000.00