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Please help me fill in the blanks in the NCI and the totals columns (show work too please so I understand) On July 1, 2018,

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Please help me fill in the blanks in the NCI and the totals columns (show work too please so I understand)

On July 1, 2018, Truman Company acquired a 70 percent interest in Atlanta Company in exchange for consideration of $764,050 in cash and equity securities. The remaining 30 percent of Atlanta's shares traded closely near an average price that totaled $327.450 both before and after Truman's acquisition In reviewing its acquisition, Truman assigned a $108,000 fair 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 remaining life of five years The following financial information is available for these two companies for 2018. In addition, the subsidiary's income was earned uniformly throughout the year. The subsidiary declared dividends quarterly Atlanta Truman 693,510) $(445,000) 421,000 35,490 $( Revenues Operating expenses Income of subsidiary 322,000 $ (308,000) $ (123,000) Net income (849,000) (567,000) (308,000) 160,00090,000 S (997.90(609,99 Retained earnings, 1/1/18 Net income (above) Dividends declared (123,000) (997,000) (600,000) Retained earnings, 12/31/18 $411,96 408,000 768,040 470,000 726,000633,000 $ 2,376,000 $ 1,287,000 $ (879,000) $(367,000) (95,000) (405,000) (997,00)(666,9692 Current assets Investment in Atlanta Land 246,000 Buildings Total assets Liabilities (300,000) (20,000) 600,000 Common stock Additional paid-in capital Retained earnings, 12/31/18 $ (2,376,000) $ (1,287,000) Total liabilities and stockholders' equity d. Prepare a worksheet to consolidate the financial statements of these two companies as of December 31, 2018. At year-end, there were no intra-entity receivables or payables. TRUMAN COMPANY AND SUBSIDIARY ATLANTA COMPANY Consolidation Worksheet For Year Ending December 31, 2018 Atlanta Consolidation Entries Noncontrolling Consolidated Truman Debit Credit Interest Totals Company Company $ (693,510) (445,000) 222,500 Revenues 10,800 Operating expenses 421,000 322,000 161,000 (35,490) $ (308,000) (123,000) Net income of subsidiary 35,490 Separate company net income Consolidated net income Net income attributable to NCI Net income attributable to Truman Retained earnings, 1/1 $ (849,000) S (567,000) Net income (308,000) (123,000) 90,000 13,500 76,500 Dividends declared 160,000 160,000 $ 160,000 $ (997,000) S (600,000) Retained earnings 12/31 Current assets $ 411,960 408,000 ,500 799,540 Investment in Atlanta 768,040 Land 470,000 246,000 Buildings 726,000 633,000 10,800 108,000 Patent 80,000 Goodwil $ 2,376,000 1,287,000 Total assets Liabilities $ (879,000) S (367,000) Common stock (95,000) (300,000) 300,000 (20,000) (600,000) Additional paid in capital (405,000) 20,000 Retained earnings 12/31 (997,000) 7450327450) (327,450) Noncontrolling interest 7/1 327,450 (313,950) Noncontrolling interest 12/31 |s 1,375,290 |$ 808,290 Total liabilities and equity (1 287,000) 2.376,000)

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