Pepper Company, which is a calendar$-$year$-$reporting company, purchased $\backslash (100\backslash \%\backslash )$ of the common stock of Salt Inc. for $\backslash (\backslash$$ $325,000\backslash )$ on $\backslash (12/31/15\backslash ).$ Pepper declared dividends of $\backslash (\backslash$$ $80,000\backslash )$ and Salt declared dividends of $\backslash (\backslash$$ $10,000\backslash )$ during $2015.$Each company's financial statements for the year ended $12/31/15$ immediately after the acquisition are as follows: Required: a$.$ Prepare a consolidation worksheet on the acquisition date of $12/31/15$ assuming that the book values of Salt's net assets approximated fair value on the acquisition date. b$.$ Prepare a consolidation worksheet on the acquisition date of $12/31/15$ assuming that the following net assets of Salt had fair values different than book value on the acquisition date.Pepper Company, which is a calendar$-$year$-$reporting company, purchased $100\%$ of the common stock

of Salt Inc. for $$325,000$ on $\frac{12}{31}\frac{?}{23}.$ Pepper declared dividends of $$80,000$ and Salt declared dividends

of $$10,000$ during $2023.$

Each company's financial statements for the year ended $12/31/23$ immediately after the acquisition are as

follows:

Required:

Prepare a consolidation worksheet on the acquisition date of $12/31/23.$ The net assets of Salt had fair

values different than book value on the acquisition date as follows.