Please do ONLY PART B

ONLY THE SECOND PART NEEDED PLEASE

Also please read the details for calculations

THANK YOU

The balance sheets for Pool Company and Swim Company as of December 31, 2020 are shown below Cash Accounts Receivable, net Inventory Property and Equipment, net Land Total Assets Pool $700,000 892,000 544,000 1,927,000 120,000 $4,183,000 Swim $111,000 230,000 60,000 468,000 94,000 $963,000 Accounts Payable Notes Payable Long-term Debt Common Stock Other Contributed Capital Retained Earnings Total Liabilties $302,000 588,000 350,000 1,800,000 543,000 600,000 $4,183,000 $152,000 61,000 90,000 500,000 80,000 80,000 $963,000 The fair values of Swim Company's assets and liabilites are equal to their book values. H L M Required: Prepare a consolidated balance sheet as of January 1, 2021 under each of the following assumptions. A. On January 1, 2021, Pool purchased 90% of the outstanding common stock of Swim Company for $594,000. B. On January 1, 2021, Pool exchanged 11,880 of its $20 par value common shares with a fair value of $50 per share for 90% of the outstanding common shares of Sprague Company