need explenation.
please do not handwrite
9.0 16.0 On January 1, 2017, Procise Corporation acquired 100 percent of the outstanding voting stock of GuageRite Corporation for $ 1,300.0 cash. In addition, Procise paid $ 32.0 in legal and accounting fees in connection with the combination On the acquisition date, Guage Rite had the following balance sheet. Cash Accounts receivable Land Building, net 80.0 567.0 330.0 560.0 1,537.0 Accounts payable Long term debt Common stock Retained earnings 45.0 862.0 450.0 180.0 1,537.0 At the acquisition date, it was found that Gauge Rite's building was overvalued by $ 108.0 , and Gauge Rite had unrecorded patents of of $ 171.0 . Any othe difference is appropriately allocated to goodwill or gain on bargain purchase. The building has an 18.0 -year remaining life, and the patent is expected to have a remaining life of 19.0 years. Gaugerite's 2017 net income and dividends were $ 480.0 and $ 140.0 On December 31, 2017, Procise and GaugeRite submitted the following separate financial statements for consolidation. There were no intra-entity payables on that date. Procise GaugeRite Sales 7,500.0 3,000.0 Cost of goods sold (3,000.0) (1,500.0) Depreciation expense 0.0 (660.0) Other operating expenses 0.0 (360.0 Subsidiary income 477.0 0.0 Net income 4,977.0 480.0 Retained earnings, 1/1/17 Net income Dividends declared Retained earnings, 12/31/17 500.0 4,977.0 (1,990.0) 3,487.0 180.0 480.0 (1400) 520.0 Cash Accounts receivable Inventory Investment in Gauge Rite Land Building, net Goodwill Total assets 240.0 720.0 930.0 1,637.0 5,830.0 2,352.0 480.0 12,189.0 88.0 4540 680.0 0.0 330.0 560.0 0.0 2,112.0 Accounts payable 690.0 41.0 At the acquisition date, it was found that GaugeRite's building was overvalued by s 108.0 , and GaugeRite had unrecorded patents of of $ 171.0 . Any othe difference is appropriately allocated to goodwill or gain on bargain purchase. The building has an 18.0 -year remaining life, and the patent is expected to have a remaining life of GaugeRite's 2017 net income and dividends were $ 480.0 and 19.0 years. 140.0 On December 31, 2017, Procise and GaugeRite submitted the following separate financial statements for consolidation. There were no intra-entity payables on that date Procise GaureRite) Sales 7,500.0 3,000.0 Cost of goods sold (3,000.0) (1,500.0) 0.0 Depreciation expense (660.0) Other operating expenses (360.0) 477.0 0.0 Subsidiary income Net income 4,977.0 480.0 0.0 Retained earnings, 1/1/17 Net income Dividends declared Retained earnings, 12/31/17 500.0 4,977.0 (1,990.0) 3,487.0 180.0 480.0 (140.0 520.0 88.0 454.0 680.0 0.0 Cash Accounts receivable Inventory Investment in GaugeRite Land Building, net Goodwill Total assets 240.0 720.0 930.0 1,637.0 5,830.0 2,352.0 480.0 12,189.0 330.0 560.0 0.0 2,112.0 690.0 41.0 Accounts payable Long term debt Common stock Retained earnings, 12/31/17 Total liabilities and equity 6,512.0 1,500.0 3,487.0 12,189.0 1,101.0 450.0 520.0 2.112.0 Required 1 Complete an analysis of the acquisition cost and its allocation. 2 Prepare a consolidation worksheet as of December 31, 2017 9.0 16.0 On January 1, 2017, Procise Corporation acquired 100 percent of the outstanding voting stock of GuageRite Corporation for $ 1,300.0 cash. In addition, Procise paid $ 32.0 in legal and accounting fees in connection with the combination On the acquisition date, Guage Rite had the following balance sheet. Cash Accounts receivable Land Building, net 80.0 567.0 330.0 560.0 1,537.0 Accounts payable Long term debt Common stock Retained earnings 45.0 862.0 450.0 180.0 1,537.0 At the acquisition date, it was found that Gauge Rite's building was overvalued by $ 108.0 , and Gauge Rite had unrecorded patents of of $ 171.0 . Any othe difference is appropriately allocated to goodwill or gain on bargain purchase. The building has an 18.0 -year remaining life, and the patent is expected to have a remaining life of 19.0 years. Gaugerite's 2017 net income and dividends were $ 480.0 and $ 140.0 On December 31, 2017, Procise and GaugeRite submitted the following separate financial statements for consolidation. There were no intra-entity payables on that date. Procise GaugeRite Sales 7,500.0 3,000.0 Cost of goods sold (3,000.0) (1,500.0) Depreciation expense 0.0 (660.0) Other operating expenses 0.0 (360.0 Subsidiary income 477.0 0.0 Net income 4,977.0 480.0 Retained earnings, 1/1/17 Net income Dividends declared Retained earnings, 12/31/17 500.0 4,977.0 (1,990.0) 3,487.0 180.0 480.0 (1400) 520.0 Cash Accounts receivable Inventory Investment in Gauge Rite Land Building, net Goodwill Total assets 240.0 720.0 930.0 1,637.0 5,830.0 2,352.0 480.0 12,189.0 88.0 4540 680.0 0.0 330.0 560.0 0.0 2,112.0 Accounts payable 690.0 41.0 At the acquisition date, it was found that GaugeRite's building was overvalued by s 108.0 , and GaugeRite had unrecorded patents of of $ 171.0 . Any othe difference is appropriately allocated to goodwill or gain on bargain purchase. The building has an 18.0 -year remaining life, and the patent is expected to have a remaining life of GaugeRite's 2017 net income and dividends were $ 480.0 and 19.0 years. 140.0 On December 31, 2017, Procise and GaugeRite submitted the following separate financial statements for consolidation. There were no intra-entity payables on that date Procise GaureRite) Sales 7,500.0 3,000.0 Cost of goods sold (3,000.0) (1,500.0) 0.0 Depreciation expense (660.0) Other operating expenses (360.0) 477.0 0.0 Subsidiary income Net income 4,977.0 480.0 0.0 Retained earnings, 1/1/17 Net income Dividends declared Retained earnings, 12/31/17 500.0 4,977.0 (1,990.0) 3,487.0 180.0 480.0 (140.0 520.0 88.0 454.0 680.0 0.0 Cash Accounts receivable Inventory Investment in GaugeRite Land Building, net Goodwill Total assets 240.0 720.0 930.0 1,637.0 5,830.0 2,352.0 480.0 12,189.0 330.0 560.0 0.0 2,112.0 690.0 41.0 Accounts payable Long term debt Common stock Retained earnings, 12/31/17 Total liabilities and equity 6,512.0 1,500.0 3,487.0 12,189.0 1,101.0 450.0 520.0 2.112.0 Required 1 Complete an analysis of the acquisition cost and its allocation. 2 Prepare a consolidation worksheet as of December 31, 2017
