must show work and use all 5 columns in worksheet

Ilmury 1, 2020 John Doe Enterprises (JDE) acquired a 55% interest in Bubba Manufacturing, Inc. for the transaction with $3 million cash and 500,000 shares of JDE common stock (par value $1.00 per share). of the acquisition, BMI's book value was $14,970,000 On lanuary 1, JDE stock had a market value of st490 per share and there BMI had the following balances on January 1, 2020. (BMI). JDE paid At the time was no control premium in this transaction. Book Value Fair Value Land Buildings (seven-year remaining life) Equipment (five-year remaining life) $1,700,000 $3,550,000 2,700,000 4,400,000 1,00,0la 42,5 3,700,000 3,200,000 oo 1 o,coco For internal reporting purposes, JDE employed the equity method to account for this investment. The following account bal lances are for the year ending December 31, 2020 for both companies. John Doe Bubba Enterprises Manufacturing $(298,000,000) $(103,750,000) Revenues Expenses Equity in income of Bubba Manufacturin Net income 95,800,000 31361500) S 7950,000) S 2,500,000) S 100,000) 271,000,000 Retained earnings, January 1, 2020 Net income (above) Dividends paid Retained earnings, December 31, 2020 31,361,500) 7,950,000) 5.000,000 3,000.000 S( 28,861,500) 5,050,000) Current Assets Investment in Bubba Manufacturing 30,500,000 20,800,000 13,161,500 1,500,000 5,600,000 1,700,000 2,360,000 3.100.000 2.960,000 S 53,861500 27,820,000 Land Buildings Equipment (net) Total assets S 3,100,000) S (6,900,000) 1,000,000) 2,900,000) 6,000,000) 19,000,000) 8,870,000) 28.861500) 5.050.000) Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings, Dec. 31, 2020 (above) Total liabilities and stockholders' equity S(53,861 500) S 27 820,000) Required Prepare a consolidation worksheet for this business combination. Assume goodwill has been reviewed and there is no goodwill impairment te