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On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,285,000 in cash and securities. On

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On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,285,000 in cash and securities. On the acquisition date, Stylene had the following balance sheet: At the acquisition date, the book values of Stylene's assets and liabilities were generally equivalent to their fair values except for the following assets: During the next two years, Stylene has the following income and dividends in its own separately prepared financial reports to its parent Dividends are declared and paid in the same period. The December 31, 2021, separate financial statements for each company follow. Parentheses indicate credit balances. a. Determine the fair value in excess of book value for Prestige's acquisition date investment in Stylene. b. Determine Prestige's December 31, 2021, Investment in Stylene balance. c. Prepare a worksheet to determine the balances for Prestige's December 31, 2021, consolidated financial statements. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Determine the fair value in excess of book value for Prestige's acquisition date investment in Style Determine Prestige's December 31,2021 , Investment in Stylene balance. PRESTIGE CORPORATION AND CONSOLIDATED SUBSIDIARY Consolidation Worksheet For Year December 31, 2021

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