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need help asap ! answer only if you can.... thank u On January 1, 2017, Prestige Corporation acquired 100 percent of the voting stock of

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On January 1, 2017, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,344,500 in cash and securities. On the acquisition date, Stylene had the following balance sheet: Accounts payable $ 1,564,000 Cash Accounts receivable Inventory Equipment (net) Trademarks $ 31,000 105,000 144,000 1,930,000 1,026,000 $ 3,236,000 Common stock Retained earnings 800,000 872,000 $ 3,236,000 At the acquisition date, the book values of Stylene's assets and liabilities were generally equivalent to their fair values except for the following assets: Asset Equipment Customer lists Trademarks Book Value $1,930,000 0 1,026,000 Pair Value $2,050,000 257,000 1,117,500 Remaining Useful Life 8 years 4 years indefinite During the next two years, Stylene has the following income and dividends in its own separately prepared financial reports to its parent. 2017 2018 Net Income $ 264,000 534,000 Dividends $ 25,000 45,000 Dividends are declared and paid in the same period. The December 31, 2018, separate financial statements for each company appear below. Parentheses indicate credit balances. Dividends are declared and paid in the same period. The December 31, 2018, separate financial statements for each company appear below. Parentheses indicate credit balances. Prestige Stylene $ (5,580,000) 2,990,000 544,000 199,000 (454,750 $ (2, 301,750) $(3,264,000) 2,310,000 420,000 0 $ (534,000) $ (3,490,000) (2,301,750) 150,000 $ (5,641,750) $(1,111,000) (534,000) 45,000 $(1,600,000) Income Statement Revenues Cost of goods sold Depreciation expense Amortization expense Equity earnings in Stylene Net income Statement of Retained Earnings Retained earnings 1/1 Net income (above) Dividends declared Retained earnings 12/31 Balance Sheet Cash Accounts receivable Inventory Investment in Stylene Equipment Customer lists Trademarks Goodwill Total assets Accounts payable Common stock Retained earnings, 12/31 Total liabilities and equity $ 472,000 766,000 986,000 2,914,000 6,240,000 198,000 2,970,000 260,000 $ 14,806,000 $ (664,250) (8,500,000) (5,641,750) $(14,806,000) 66,000 76,000 494,000 0 2,032,500 0 944,000 0 3,612,500 $(1,212,500) (800,000) (1,600,000) $ (3,612,500) a. Determine the fair value in excess of book value for Prestige's acquisition date investment in Stylene. b. Determine Prestige's December 31, 2018, Investment in Stylene balance. c. Prepare a worksheet to determine the balances for Peregrine's December 31, 2018, consolidated financial statements. Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the fair value in excess of book value for Prestige's acquisition date investment in Stylene. Fair value in excess of book value Finquired A Required B Required A Required B Required C Determine Prestige's December 31, 2018, Investment in Stylene Investment in Stylene

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