On January 1, 2018, Pickle Corp. paid $80,000 to purchase 80% of the common stock of Sickle Company.

On date of the acquisition Sickle's Land was undervalued $3,800, and its Building (7 year life) was undervalued $4,200, and its Equipment (five-year life) was undervalued $2,000.Identify the component parts of the cost of the investment on the date of acquisition.

Using the above analysis, enter the necessary 12/31/2018 consolidation entries.

12/31/2018Pickle Company 12/31/2009Sickle Company Consolidation Entries Noncontrolling Consolidated Debit Credit Interest

Income Statement

Revenues (1,510,000) (518,750)

Depreciation Expense 500,000 234,950

Operating Expenses 954,280 260,000

Equity in Net Income of Sub (18,240)

Separate Net Income (73,960) (23,800)

Consolidated Net Income

Noncontrolling Interest in Sub's Net Income

Controlling Interest in Sub's Net Income

Statement of Retained Earnings

Retained Earnings 1/1 122,500) (10,500)

Net Income (above) (73,960) (23,800)

Dividends Declared 25,000 15,000

Retained Earnings 12/31 (171,460) (19,300)

Balance Sheet

Current Assets 38,220 14,000

Investment in Sickle Company 86,240

Land

Buildings-net 37,500 8,650

Equipment - net 98,000 81,800

Goodwill 35,500 24,800

Total Assets 295,460 129,250

Current Liabilities (18,340) (24,500)

Long-term Liabilities (26,160) (10,950)

Common Stock (44,500) (20,000)

Additional Paid-in Capital (35,000) (54,500)

Noncontrolling Interest 1/1

Noncontrolling Interest 12/31

Retained Earnings-above (171,460) (19,300)

Total Liabilities & Equities (295,460) (129,250) *This is a sample from our book If someone can show me how to complete the sample that would be amazing, thank you!