On February $1,2024,$ Ivanhoe Company purchased $95\%$ of the outstanding common stock of Debra Company and $85\%$ of the outstanding common stock of Gary Company. Immediately before the two acquisitions, balance sheets of the three companies were as follows:

IVANHOE DEBRA GARY

CASH $$165,000\mathrm{.}00$ $$41,000\mathrm{.}00$ $$15800$

ACCOUNTS RECEIVABLE $($NET$)34,000\mathrm{.}0034,000\mathrm{.}0030000$

NOTES RECEIVABLE $18,500\mathrm{.}0000$

MERCHANDIES INVENTORY $109,000\mathrm{.}0042,000\mathrm{.}0013000$

PREPAID INSURANCE $13,800\mathrm{.}002,200\mathrm{.}00500$

ADVANCES TO DEBRA COMPANY $13,000\mathrm{.}00$

ADVANCES TO GARY COMPANY $4,900\mathrm{.}00$

LAND $260,000\mathrm{.}0018,900\mathrm{.}0018900$

BUILDINGS $($NET$)106,000\mathrm{.}0016,500\mathrm{.}0016500$

EQUIPMENT $($NET$)30,000\mathrm{.}003,800\mathrm{.}003800$

TOTAL $$754,200\mathrm{.}00$ $$203,600\mathrm{.}00$ $$98500$

ACCOUNTS PAYABLE $28,500\mathrm{.}0022,000\mathrm{.}0011200$

INCOME TAXES PAYABLE $32,300\mathrm{.}0010,700\mathrm{.}000$

NOTES PAYABLE $05,000\mathrm{.}0011200$

BONDS PAYABLE $100,000\mathrm{.}0000$

COMMON STOCK, $$10$ PAR VALUE $300,000\mathrm{.}00144,000\mathrm{.}0045000$

OTHER CONTRIBUTED CAPITAL $190,000\mathrm{.}0013,800\mathrm{.}0039000$

RETAINED EARNINGS $($DEFICIT$)103,400\mathrm{.}008,100\mathrm{.}00-7900$

TOTAL $$754,200\mathrm{.}00$ $$203,600\mathrm{.}00$ $$98500$

The following additional information is relevant.

$1.$ one week before the aquistions, ivanhoe company had advanced $$13,000$ to Debra company and $$4900$ to gary company. debra company recorded an increase to accounts payable for its advance, but gary company had not recorded the transaction.

$2.$ on the date acquisition, ivanhoe company owed debra company $$12,900$ for purchases on account, and gary company owed ivanhoe company $$3000$ and debra company $$5700$ for such purchases. The goods purchased had all been sold to outside parties prior to acquisition.

$3.$ Ivanhoe company exchanged $13300$ shares of its common stock with a fair value of $$12$ per share for $95\%$ of outstanding common stock of debra company. In addition, stock issue fees of $$5000$ were paid in cash. The acquisition was accounted for as a purchase.

$4.$ Ivanhoe company paid $$57,800$ cash for the $85\%$ interest in gary company.

$5.2500$ compant paid $57800$ cash for the $85\%$ interest in gary company.

$6.$ Assume that for debra, any difference between book value and the value implied by the purchase price relates to subsidiary land. However, for gary assume that any excess of book value over the value implied by the purchase price is due to over valued buildings.

a$.$ Give the book entries to record the two acquisitions in the accounts of ivanhoe company. $($If no entry is required, select $"$no entry" for the account titles and enter $0$ for the amounts.$)$

b$.$ Prepare a consolidated balance sheet workpaper immediately after acquisition. $($round answers to $0$ decimal places, e$.$g$.125.)$

c$.$ Prepare a consolidated balance sheet at the date of acquisition for ivanhoe company and its subsidiaries. $($round answers to $0$ decimal places, eg$.125.$ List assets in order of liquidity. List assets in order of liquidity. List property, plant and equipment in order of land, buildings and equipment.$)$