On December 31, 2021. Felino Corporation and all of Company's.com 5670.000 can On that date www bance sheet appeared an follow 5 SO 000 70 000 Assets Cast Accounts Receivables Inventory Land Buildings and Equipment (net) $ 80.000 40,000 100.000 120,000 260.000 Lalities Current Payables Notes Payable Stockholders' Equity Common stock Additional Paid in Capital Retamed Eags 150 000 200.000 130 000 $ 600.000 Total $ 600.000 On that date prior to the acquisition, Fellslip Corporation's balance sheet appeared as follows Assets Liabilities Cash $ 2,780,000 Current Payables $ 450.000 Accounts Receivables 540,000 Notes Payable 770,000 Inventory 300,000 Stockholders' Equity Land 7.920,000 Common stock 650.000 11.260.000 Buildings and Equipment 10.200.000 Additional Paid in Click Save and Submit to save and submit. Click Save Al Answers to save all answers. Save On that date the A Cash Account Recerah S450.000 TRO 270.000 540.000 300 000 7.920,000 11.260.000 Lilles Curve Payable Notes Payable Stockholders Common stock Ada Palm Capital Retained lamang 650 000 10 200 000 Land Building and be (net) 10.730.000 500.000 Total $ 2.800.000 The fair values of all of Downspour's assets and liabilities were equal to their book values except for the following Inventory Land Buildings and Equipment Fair Value $ 145,000 200,000 325,000 In recording this acquisition, push down accounting was used. Save AXN Required Click Save and Submit to save and submit. Click Save All Answers to save all answers. Required 1) Record the acquisition of Downspout's stock on Fellslip's books on Deceraber 31, 2021 2) Record any entries that would be made on December 31, 2021, on Downpout's books related to the business combination 3) Present all consolidating entries that would appear in the worksheet to prepare a consolidated balance sheet immediately after the combination 4) Prepare a consolidated CLASSIFIED balance sheet for Fellslip Corporation on December 31, 2021. Be sure the financial statement is in good form with appropriate syntax. ALT F10 (PGor ALT+FN.F10 (Mac). 5