Please make the same Tables and Make Entry in that. Otherwise it will be so confused. Thank you so much!

Consolidated Balance Sheet Working Paper, Date of Acquisition, Bargain Purchase On January 1, 2019, Paxon Corporation acquired 80 percent of the outstanding common stock of the Saxon Company for $1.4 billion cash. The balance sheets of Paxon and Saxon, immediately prior to the combination, follow: (in millions) Paxon Saxon Assets Cash and receivables $ 2,860 $ 720 Inventory 1,700 900 Equity method investments 300 Land 650 175 2,400 600 Buildings and equipment, net Total assets Liabilities and shareholders' equity $ 7,610 $2,695 Current liabilitiess $ 1,500 $1,000 Long-term debt 2,000 400 100 350 Common stock, par value 500 Additional paid-in capital 1,200 Retained earnings 2,410 Total liabilities and shareholders' equity $7,610 $ 2,695 845 Several of Saxon's assets and liabilities had fair values that were different from their book values. Estimates of the fair values of these items follow: (in millions) Estimated fair value $ 800 Inventory Equity method investments 250 Land 420 Buildings and equipment, net 900 In addition, Saxon had previously unrecorded identifiable intangible assets valued at $110 million. The estimated fair value of the noncontrolling interest in Saxon is $200 million. a. Calculate the gain on acquisition and prepare Paxon's entry to record the acquisition. When appropriate, use negative signs with your revaluation answers (left column only). Do not use negative signs with your answers in the right column. Enter answers in millions. $ Acquisition cost Fair value of noncontrolling interest Total $ Book value of Saxon $ Revaluations: Inventory Equity method investments Land Buildings and equipment, net Identifiable intangibles Fair value of identifiable net assets 0 Gain on acquisition $ 0 Paxon's acquisition entry (in millions): General Journal Description Debit Credit 0 o Cash 0 0 b. Prepare a working paper to consolidate the balance sheets of Paxon and Saxon at January 1, 2019. Remember to use negative signs with your credit (Cr) balance answers in the Dr (Cr) columns. Enter answers in millions. Consolidation Working Paper Accounts Taken From Books Eliminations Paxon Saxon Consolidated Balances (in millions) Dr (Cr) Dr (Cr) Debit Credit Dr (Cr) Cash and receivables $ $ 0 $ 0 0 (R) Inventory 0 Equity investments 0 (R) 0 Identifiable intangible assets - (R) 0 0 Investment in Saxon O (R) 0 (R) o o ! Land 0 (R) 0 oo 0 (R) 0 Buildings and equipment, net Current liabilities 0 Long-term debt 0 Common stock, par value O o o o o o o o 0 0 (E) 0 Additional paid-in capital Retained earnings Oo oo 0 Noncontrolling interest (R) 0 (E) 0 olo Total $ 0 $ $ 0 $ $ 0 c. Present the consolidated balance sheet, in good form, at the date of acquisition. Do not use negative signs for any of your answers. Enter answers in millions. Consolidated Balance Sheet January 1, 2019 (in millions) Assets Cash and receivables $ 0 Inventory 0 Current assets 0 Equity method investments Land Buildings and equipment, net Identifiable intangible assets Total assets $ Liabilities and shareholders' equity Current liabilities $ 0 Long-term debt 0 Total liabilities 0 Shareholders' equity Paxon stockholders' equity: Common stock Additional paid-in capital Retained earnings Total Paxon shareholders' equity O o oo ooo Noncontrolling interest Total shareholders' equity Total liabilities and shareholders' equity $