On January 1, 2023, Playtel Inc. acquired all of the stock of San Jose Cable for $250 million in cash. At the date of acquisition, San Jose's shareholders' equity accounts were as follows (in thousands Common stock, $1 par $5,000 (1,000) Additional paid-in capital 30,000 Retained delict Treasury stack Total (500) $31,500 Both companies have a December 31 year-end. At the date of acquisition, San Jose's reported net assets had book values approximating fair value. However, it had previously unreported indefinite- life identifiable intangibles valued at $65 million, meeting ASC Topic 805 requirements for capitalization. Impairment losses in 2023 for identifiable intangibles were $500,000. Goodwill from this acquisition was not impaired in 2023. San Jose reported net income of $3 million in 2023, and paid no dividends. Playtel uses the complete equity method to report its investment in San Jose on its own books Required a. Calculate the original amount of goodwill for this acquisiton $ 0 (in thousands) b. Calculate equity in net income of San Jose, reported on Playte's books in 2023 50 (in thousands) c. Prepare eliminating entries (C) (E), (R) and (0) required to consolidate Playtes trial balance accounts with those of San Jose on December 31, 2023 Enter numerical answers in thousands Ref. Description E Common stock $1 par Turystock investment in San Jose identifiable intangibles Debit Credit 0 10 0 4 0 0 Equity Method and Eliminating Entries, First Year On January 1, 2023, Playtel Inc. acquired all of the stock of San Jose Cable for $250 milion in cash. At the date of acquisition, San Jose's shareholders' equity accounts were as follows in thousands Common stack, $1 pr 15,000 Additional paid-in capital 30000 Retained defick Treasury sock (1,000) (500) $33,500 Both companies have a December 31 year-end. At the date of acquisition, San jose's reported net assets had book values approximating fair value. However, it had previously unreported indefinite-e identifiable intangibles valued at $65 million, meeting ASC Topic 805 requirements for capitalization. Impairment losses in 2023 for identifiable intangibles were $500,000. Goodwill from this acquisition was not impaired in 2023 San jose reported net income of $3 million in 2023, and paid no dividends. Playtel uses the complete equity method to report its investment in San jose on its own books Required a Calculate the original amount of goodwill for this acquisiton. $0 in thousands) b. Calculate equity in net income of San jose, reported on Playte's books in 2023. 50 (in thousands) Prepare eliminating entries IC 03 (R) and (O), required to consolidate Playters trial balance accounts with those of San jose on December 31, 2023. Enter numerical answers in thousands 100 Description Deb Credi 0 Common stuck, par 0 0 B T 0 derdhuble entangles 0 9 0 0