Pushdown Accounting with Bargain Gain (see related P3.4) Refer to the information in P3.4. Assume Saxon uses pushdown accounting as of the date of acquisition. Required a. Prepare the entry Saxon makes on its own books at the date of acquisition. b. Prepare a working paper to consolidate the balance sheet accounts of Paxon and Saxon at January 1 , 2019. Consolidated Balance Sheet Working Paper, Bargain Purchase On January 1, 2019, Paxon Corporation acquired all of the outstanding common stock of Saxon Company for $1.7 billion cash. The balance sheets of Paxon and Saxon, immediately prior to the combination, are shown below: Several of Saxon's assets had fair values that were different from their book values. Estimates of the fair values of these items follow