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On December 31, 2020, the statements of financial position of Table Company and Chair Company are as follows (amounts in thousands): Cash Table $ 1,200
On December 31, 2020, the statements of financial position of Table Company and Chair Company are as follows (amounts in thousands): Cash Table $ 1,200 Chair $ 1,500 Chair (FV) Accounts receivable 1,500 1,800 Inventories 1,800 1,400 Plant and equipment (net) 4,000 5,000 $6,000 Total Assets $8,500 $9,700 Current liabilities $ 2,200 $ 2,550 Long-term liabilities 3,000 750 $ 600 Common shares 1,800 1,400 1,500 5,000 Total Equities $8,500 $9,700 Retained earnings Table Company has 120,000 shares of common stock outstanding. Chair Company has 65,000 shares outstanding. All assets and liabilities have book values equal to fair values, except as noted above. The plant and equipment has an estimated remaining useful life of 6 years from the date of acquisition. The long-term liabilities mature on December 31, 2025. Market value of the new shares issued was $50 per share at issuance. Assume that 60% of the outstanding shares of Chair were acquired for cash of $6.6 million. Instructions: Management has asked you to determine the amounts to prepare on the financial statements which will be provided to the external users. Management will not tolerate errors in the numbers that you provide or formatting errors as these numbers will be directly inputted into the financial statements. Enter all numbers without dollar signs. Round numbers to the nearest whole dollar, do not enter any decimals in your number. Use commas properly. Do not show numbers such as expenses and dividends as negative. If the amount is zero, enter 0, do not leave any answers blank. For example, a properly formatted number is 125,250. Numbers incorrectly formatted with not result in any marks. Required: Part A Calculate goodwill on the consolidated balance sheet at December 31, 2020, under the entity method. The amount of goodwill is 3,450,000 A Part B Calculate the non-controlling interest on the consolidated balance sheet at December 31, 2020, under the entity method. The non-controlling interest is A/ Part C Calculate goodwill on the consolidated balance sheet at December 31, 2020 under the parent-company extension method. The amount of goodwill is Part D Calculate non-controlling interest on the consolidated balance sheet at December 31, 2020 under the parent-company extension method. The non-controlling interest is A Part E At December 31, 2023, the balance in the long-term liabilities of Chair is still $750,000 and the balance of long-term liabilities for Table is $6,000,000. Calculate the balance in the consolidated long-term liabilities at December 31, 2023. The long-term liabilities are
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