On January 1, 2023, Palo Verde Corporation acquired 100 percent of the voting stock of Silverstone Corporation in exchange for $2,220,500 in cash and securities. On the acquisition date, Silverstone had the following balance sheet: At the acquisition date, the book values of Silverstone's assets and liabilities were generally equivalent to their fair values except for the following assets: During the next two years, Silverstone 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, 2024, separate financial statements for each company follow. Parentheses indicate credit balances. a. Determine the fair value in excess of book value for Palo Verde's acquisition date investment in Silve b. Determine Palo Verde's December 31, 2024, Investment in Silverstone balance. c. Prepare a worksheet to determine the balances for Palo Verde's December 31, 2024, consolidated fi Complete this question by entering your answers in the tabs below. Determine Palo Verde's December 31, 2024, Investment in Silverstone balance. a. Determine the fair value in excess of book value for Palo Verde's aquisition date investment in Silverstone. b. Determine Palo Verde's December 31, 2024, Investment in Silverstone balance. c. Prepare a worksheet to determine the balances for Palo Verde's December 31, 2024, consolidated financial statements Complete this question by entering your answers in the tabs below. On January 1, 2023, Palo Verde Corporation acquired 100 percent of the voting stock of Silverstone Corporation in exchange for $2,220,500 in cash and securities. On the acquisition date, Silverstone had the following balance sheet: At the acquisition date, the book values of Silverstone's assets and liabilities were generally equivalent to their fair values except for the following assets: During the next two years, Silverstone 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, 2024, separate financial statements for each company follow. Parentheses indicate credit balances. a. Determine the fair value in excess of book value for Palo Verde's acquisition date investment in Silve b. Determine Palo Verde's December 31, 2024, Investment in Silverstone balance. c. Prepare a worksheet to determine the balances for Palo Verde's December 31, 2024, consolidated fi Complete this question by entering your answers in the tabs below. Determine Palo Verde's December 31, 2024, Investment in Silverstone balance. a. Determine the fair value in excess of book value for Palo Verde's aquisition date investment in Silverstone. b. Determine Palo Verde's December 31, 2024, Investment in Silverstone balance. c. Prepare a worksheet to determine the balances for Palo Verde's December 31, 2024, consolidated financial statements Complete this question by entering your answers in the tabs below