Mid-year acquisition 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: : 40,000 Cash & Receivables PPE Liabilities Common Stock Retained earnings Sales Cost of goods sold Other expenses Dividends declared 320,000 130000 50000 160000 240000 150000 60000 10000 What is Little's book value (aka "net assets") at acquisition? How much goodwill is present? What are the "post acquistion earnings" of Little? What are the "post acqusition dividends" of Little? What is the value in cell F22? What is the value in cell F237 What is the value in cell D27? What is the value in cell F28? What is the value in cell 0437 What is the value in cell E43? ? 0 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: cr Consolidated Sales Less: COGS Less: other expenses Investment income Net income Less: Income to NC Interest Income to controlling interest Big Little dr 450000 450000 350000 260000 50000 90000 56000 106000 100000 Beginning R/E Add: Income Less: Dividends Ending R/E 230000 106000 30000 306000 160000 100000 25000 235000 Cash and receivables Investment in Little PPE Goodwill 50000 244000 250000 40000 0 300000 Liabilities CS R/E NC Interest 138000 100000 306000 55000 50000 235000 544000 544000 340000 340000 Mid-year acquisition 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: : 40,000 Cash & Receivables PPE Liabilities Common Stock Retained earnings Sales Cost of goods sold Other expenses Dividends declared 320,000 130000 50000 160000 240000 150000 60000 10000 What is Little's book value (aka "net assets") at acquisition? How much goodwill is present? What are the "post acquistion earnings" of Little? What are the "post acqusition dividends" of Little? What is the value in cell F22? What is the value in cell F237 What is the value in cell D27? What is the value in cell F28? What is the value in cell 0437 What is the value in cell E43? ? 0 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: cr Consolidated Sales Less: COGS Less: other expenses Investment income Net income Less: Income to NC Interest Income to controlling interest Big Little dr 450000 450000 350000 260000 50000 90000 56000 106000 100000 Beginning R/E Add: Income Less: Dividends Ending R/E 230000 106000 30000 306000 160000 100000 25000 235000 Cash and receivables Investment in Little PPE Goodwill 50000 244000 250000 40000 0 300000 Liabilities CS R/E NC Interest 138000 100000 306000 55000 50000 235000 544000 544000 340000 340000