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Need help with all but A On January 3. 2019. Persoff Corporation acquired all of the outstanding voting stock of Sea Cliff, Inc., in exchange

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Need help with all but A

On January 3. 2019. Persoff Corporation acquired all of the outstanding voting stock of Sea Cliff, Inc., in exchange for $6,000,000 cash. Persoff elected to exercise control over Sea Cliff as a wholly owned subsidiary with an independent accounting system. Bot. companies have December 31 fiscal year-ends. At the acquisition date, Sea Cliff's stockholders" equity was $2,500,000 including retained earnings of $1,700,000. Persoff pursued the acquisition, in part, to utilize Sea Cliff's technology and computer software. These items had fair values that differed from their values on Sea Cliff's books as follows: Sea Cliff's remaining identifiable assets and liabilities had acquisition-date book values that closely approximated fair values. Sinc acquisition, no assets have been impaired. During the next three years, Sea Cliff reported the following income and dividends: December 31,2021 , financial statements for each company follow. Parentheses indicate credit balances. Dividends declared were in the same period. Note: Parentheses indicate a credit balance. o. Determine the fair value in excess of book value for Persoff's acquisition date investment in Sea Cliff. b. Determine Persoff's Equity eamings in Sea Cliff's balance for the year ended December 31, 2021. c. Determine Persoff's December 31, 2021, Investment in Sea Cliff's balance. d. Prepare a worksheet to determine the consolidated values to be reported on Persoff's financial statements

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