Part II Assume that Big Company decides to acquire 100% of Little Company for $200,000. Prepare the consolidated balance sheet and any supporting worksheets. Calculation of fair value of the net assets of Little Company Journal Entry for Acquisition Assume that Big Company decides to acquire 100% of Little Company for $200,000. Prepare the consolidated balance sheet and any supporting worksheets. Big Company Balance Sheet Big Company Worksheet Assets, Liabilities & Equities Book Value Assets, Liabilities & Equities Cash $500,000 Cash AR $10,000 AR Inventory $50,000 Inventory Land $40,000 Land PP&E $400,000 PP&E Accumulated Depreciation -$150,000 Accumulated Depreciation Goodwill Patent $0 Patent Total Assets $850,000 Total Assets AP $110,000 AP Common Stock $395,000 Common Stock Additional Paid In Capital $300,000 Additional Paid In Capital Retained Earnings $45,000 Retained Earnings Total Liabilities & Equity $850,000 Total Liabilities & Equity Little Company Balance Sheet Assets, Liabilities & Equities Book Value Cash $35,000 AR $10,000 Inventory $65,000 Land $40,000 PP&E $40,000 Accumulated Depreciation -$5,000 Patent $0 Total Assets $185,000 AP $25,000 Common Stock $25,000 Additional Paid In Capital $35,000 Retained Earnings $100,000 Total Liabilities & Equity $185,000 Assume that Fair Value of all noncash assets are 25% greater than book value