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Please help meOn December 3 1 , Year 5 , Darrell Inc. purchased 1 0 0 % of the outstanding shares of Kindersley Company for

Please help meOn December 31, Year 5, Darrell Inc. purchased 100% of the outstanding shares of Kindersley Company for $7,645 cash. Three
different values for Kindersley's balance sheet accounts on the date of acquisition were as follows:
All differences between carrying amount and the tax base are temporary differences for the items listed above. The patent has an
estimated useful life of 8 years. Any goodwill reported on the consolidated balance sheet pertains only to Kindersley and is redundant
for tax purposes. A goodwill impairment loss of $365 was reported in Year 7.
The tax rate for both companies is 40%. Assume that future income taxable payable on the separate entity financial statements of the
parent and subsidiary are as follows:
Required:
(a) Calculate goodwill and future income taxes payable for the consolidated balance sheet at the date of acquisition. (Omit $ sign in
your response.)
(b) Prepare a changes to acquisition schedule for Years 5 through 7.(Leave no cells blank - be certain to enter "0" wherever
required. Negative/Deductible amounts should be indicated by a minus sign. Omit $ sign in your response.)
(c) Calculate goodwill and future income taxes payable for the consolidated balance sheet for Year 7.(Omit $ sign in your response.)
Future income taxes payable $
Goodwill $
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