On January 1,2023, Procise Corporation acquired 100 percent of the outstanding voting stock of GaugeRite Corporation for $2.058,500 cash. On the acquisition date, GaugeRite had the following balance sheet: At the acquisition date, the following allocation was prepared Although at acquisition date Procise had expected $66,500 in future benefits from GougeRite's in.process research and dovelopment project, by the end of 2023 it was apparent that the researeh project was a failure with no future economic benefits. On December 31, 2024, Procise and GaugeRite submitted the following financial statements for consolidation. There were no intraentity payables on that date. On January 1,2023, Procise Corporation acquired 100 percent of the outstanding voting stock of GaugeRite Corporation for $2.058,500 cash. On the acquisition date, GaugeRite had the following balance sheet: At the acquisition date, the following allocation was prepared Although at acquisition date Procise had expected $66,500 in future benefits from GougeRite's in.process research and dovelopment project, by the end of 2023 it was apparent that the researeh project was a failure with no future economic benefits. On December 31, 2024, Procise and GaugeRite submitted the following financial statements for consolidation. There were no intraentity payables on that date