On January $1,2020,$ Innovus, Inc., acquired $100$ percent of the common stock of ChipTech Company for $$670,000$ in casn ando consideration. ChipTech's fair value was allocated among its net assets as follows:

The December $31,2021,$ trial balances for the parent and subsidiary follow $($there were no intra$-$entity payables on that date$)$:

Using Excel, compute consolidated balances for Innovus and ChipTech by completing the provided worksheet. The Excel Template can be accessed by clicking this link $.$