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Pot Inc. acquired all Seed Inc.'s par common stock. Pot's common stock closed at $56.50 per share on a national stock exchange on December 31,

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Pot Inc. acquired all Seed Inc.'s par common stock. Pot's common stock closed at $56.50 per share on a national stock exchange on December 31, 20X3. Both g $25 par common stock on December 31, 20X3, In exchange for 43,000 shares of its $25 December 31, 20X4, after year-end adjustments and the closing of nominal accounts, the companies had condensed balance $833,800 333,880 845.800 2, 320,8e 1,96e,809 Accounts & other Receivables Inventories Land Depreciable Assets (net) Investnent in Seed Inc Long-Term Investments & Other Assets Total Assets 2,145,880 668,00e 11,80 4,593,800 1,995,800 2,B53,589 878,00 391,86 $14,290,500 $4,935,800 Liabilities and Stockholders' Equity Accounts Payable and Other Current Liabilities Lone Comon Stock, $25 Par Value Additional Paid-In Capital Retained Earnings Total Liabilities and Stockholders Equity $ 2,461,900 $1,127,800 Term 1,B81,8e9 1,297,869 3,265,00ee 1,075,880 182,808 5.329.8031,254,800 1,354,583 $14,29e,58 $4,935,8e8 1. Pot uses the equity-method of accounting for its investment in Seed. 2. On December 31, 20X3, Seeds assets and liabilities had fair values equal to the book balances with the exception ot land, which had a fair value of 653,500 Seed had no land transactions in 204 3. On June 15, 20x4, Seed paid a cash dividend of $4 per share on its common stock 4. On December 10, 20x4, Pot paid a cash dividend totaling $259,000 on its common stock 5. On December 31, 20X3, immediately before the combination, the stockholders equity balance was: Stock Additional Paid-In $2,198,080 $1,875,880 Retained Earnings $7,942,00 $2,087,800 , The 204 net income amounts according to the separate books of Pot and Seed were $891,000 (exclusive of equity in Seed's earnings) and $596,000, respectively. Prepare a consolidated balance sheet worksheet for Pot and its subsidiary, Seed, for December 31, 20X4(Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one mount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) AND SUB SIDIA Consolidated Balance Sheet Worksheet December 31, 20X4 Consolidation Entries Seed I Assats Cash Accounts& other reccivables Imventory 833 000333,000 845,000 1,060,000 2 320,000 568,000 453,000 2.853,500 2,990,00D 3,380,000 979,000 6,588,00 2,853,500 1,269,000 1,995,00U Investment in Seed Inc. Long-term Investments& other assets Total Assets 14.290,500| $ 4,935,000 s 01 19.225,500 Liabilities & Stockholders' Equity Accounts payable & other current liabilities 2.461,000 S 1,127,000 1,881,00 3 265,00 1,354,500 5,329,000 $ 3,588,000 debt 340,000 1,536,500 6,583,000 01 19.225,500 182,000 Additional Paid-in capital Retained earnings Total Liahilities & Equity 1254,000 5 14250,500 4,935,000S

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