Pharma Company (Pharma) is a pharmaceutical company operating in Winnipeg. It is developing a new drug for treating multiple sclerosis (MS). On January 1, Year 3, Benefit Ltd. (Benefit) signed an agreement to guarantee the debt of Pharma and guarantee a specified rate of return to the common shareholders. In return, Benefit will obtain the residual profits of Pharma. After extensive analysis, it has been determined that Pharma is a controlled special-purpose entity and Benefit is its sponsor. The balance sheets (in millions) of Benefit and Pharma on January 1, Year 3, were as follows: Current assets Property, plant, and equipment Intangible assets Benefit Pharma Carrying carrying Fair Amount Amount Value $ 490 $ 90 $ 90 720 240 250 130 100 150 $ 1,340 $ 430 $ 490 $ 305 $ 220 $ 220 645 220 225 90 1 300 (11) $ 1,340 $ 430 Current liabilities Long-term debt Common shares Retained earnings An independent appraiser determined the fair values of Pharma's non-current assets. The appraiser was quite confident of the appraised value for the property, plant, and equipment but had some reservations in putting a specific value on the intangible assets. Required: Prepare a consolidated balance sheet at January 1, Year 3, assuming that the agreement between Benefit and Pharma established the following fair values for the common shares of Pharma: (Enter your answers in millions of dollars. Leave no cells blank - be certain to enter "O" wherever required. Omit $ sign in your response.) (a) $45 million (b) $40 million (c) $55 million (c) Pharma Company Consolidated Balance Sheet at January 1, Year 3 (in millions) (a) (b) Current assets Property, plant, and equipment Intangible assets Goodwill $ $ $ $ $ $ Current liabilities Long-term debt Common shares Retained earnings Non-controlling interest $ $ $