Prepare consolidated financial statements when goodwill is present.This is a continuation of the prior tab $($Investments with Goodwill$).$ Information is repeated below.

On January $1,20$X$4,$ Acme Corporation acquired $100\%$ of the outstanding common stock of Coyote, a foreign company $($amounts translated to USD$).$ To acquire these shares, Acme

issued to the owners of Coyote $$200,000$ in long$-$term liabilities and $20,000$ shares of common stock having a par value of $$1$ per share but a fair value of $$20$ per share. Acme paid

$$30,000$ to accountants, lawyers, and brokers for assistance in the acquisition and another $$12,000$ in connection with stock issuance costs.

Prior to these transactions, the balance sheets for the two companies were as follows:

Coyote as a wholly owned subsidiary.