On July $1,2024,$ Truman Company acquired a $70$ percent Interest in Atlanta Company In exchange for consideration of $$822,550$ in cash and equity securities$.$ The remaining $30$ percent of Atlanta's shares traded closely near an average price that totaled $$333,950$ both before and after Truman's acquisition.

In reviewing Its acquisition, Truman assigned a $$126,000$ falr value to a patent recently developed by Atlanta, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remalning life of five years.

The following financial information is avallable for these two companies for $2024.$ In addition, the subsidlary's income was earned unlformly throughout the year. The subsidiary declared dividends quarterly.

How did Truman allocate the goodwill from the acquisition across the controlling and noncontrolling interests? How did Truman derive the Investment in Atlanta account balance at the end of $2024?$ Prepare a worksheet to consolidate the financial statements of these two companies as of December $31,2024.$ At year$-$end, there were no intra$-$entity receivables

or payables.

Note: For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the

worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.