Please provide me with the correct solution for a big THUMP UP. THANK YOU IN ADVANCE.

On January 1, 2017, Procise Corporation acquired 100 percent of the outstanding voting stock of GaugeRite Corporation for $2,042,200 cash. On the acquisition date, GaugeRite had the following balance sheet: $ 125,000 Accounts payable $ 183,000 990,000 1,059,000 707,000 as Accounts receivable 115,000 Long-term debt 773,000 Common stock an 1,926,000 Retained earnings Equipment (net) $2,939,000 $2,939,000 At the acquisition date, the following allocation was prepared Fair value of consideration transferred Book value acquired Excess fair value over book value $2,042,200 1,766,000 276, 200 To in-process research and development To equipment (8-year remaining life) To goodwill (indefinite life) $47,000 99, 200 46,200 $ 130,000 Although at acquisition date Procise had expected $47,000 in future benefits from GaugeRite's in-process research and development project, by the end of 2017, it was apparent that the research project was a failure with no future economic benefits On December 31, 2018, Procise and GaugeRite submitted the following trial balances for consolidation. There were no intra-entity payables on that date Procise $ (3,740,650) $(1,340,500) GaugeRite Sales Cost of goods sold Depreciation expense Other operating expenses Subsidiary income 1,690,000 336,000 224,250 875,000 139,000 34, 500 (279,600) $ (1,770,000) (292,000) (927,000) (292,000) Net income Retained earnings 1/1/18 Net income Dividends declared (3,000,000) (1,770,000) 100,000 26,475 (4,670,00e) $(1,192,525) 37,075 % \67,525\ Retained earnings 12/31/18 as Accounts receivable Inventory Investment in GaugeRite Land 907,000 996,000 2,455,925 3,432, 500 5, 202,500 356,000 212,000 700,000 727,000 1,835,000 Equipment (net) Goodwil1 Total liabilities and equity (13,387,000) $(3,541,525) a. Show how Procise derived its December 31, 2018, Investment in GaugeRite account balance c. Prepare a consolidated worksheet for Procise and GaugeRite as of December 31, 2018