pupul tu consolidate the trial balances of Paxon and Saxon at December 31. olidation Working Paper Two Years After Acquisition, Bargain Purchase 5.4) Refer to the information in P5.4. Now assume it is December 31,2020, two years after t (see re- rs after the LO 3 isition. The trial balances of Paxon and Saxon at December 31,2020, appear below: Dr (Cr) in millions) Paxon Saxon Cash and receivables... $ 850 950 $ 3,100 2,500 2,043.9 650 5,905 (2,500) (6,000) 250 1,440 (1,000) (800) (100) (350) (3,102.2) (1,090) 50 (35,000) (12,000) Long-term debt . (500) (1.200) Dividends .. . 500 (146.7) 30,000 450 300 3,000 9,500 60 40 Depreciation and amortization expense. 2,200 Other operating expenses. . Totals Required a. Prepare a schedule computing equity in net income of Saxon for 2020, reported on Paxon's books, and the noncontrolling interest in net income for 2020, to be reported on the consolidated income statement for 2020. b. Prepare a working paper to consolidate the trial balances of Paxon and Saxon at December 31,2020