QUESTIONS Rand Coen aged 100% of Spoulding Inc, on December 31, 2012. Spaulding was dissolved right afterwards. Please prepare the journal entex for consolidation to situation Rand Spaulding Corp. Inc Revenues Expenses $ 372.000 S108.000 Equity in subsidiary earnings (264,000) (72.000) 25.000 Net income D S. 133.000 S 36.000 Retained earnings, January 1, 2012 $ 765.000 S102.000 Net income (above) 133.000 36.000 Dividenda paid Retained earnings. December 31, 2012 (2-4.000) S_8144.000 SILL000 Current Assets $ 150.000 $ 22.000 Investment in Spaulding Ine 242.000 O Buildings (net) 525.000 85.000 Equipment (net) 389,250 129.000 Total assets S1.306.250 $236.000 Liabilities $82,250 $ 50.000 Common stock 360,000 72.000 Additional paid in capital 50,000 Retained earnings December 31, 2012 (above) 814.000 Total liabilities and stockholders' equity SL106220 5236.000 Cik Save and Submit to send it to Situation 1: Rand pay $200,000 cash to acquire all of the Spalding's assets and liabilities. The fair value of Spouldn's Enti 31.000 higher than its book value. For the rest assets and liabilities, there is no difference between book value and fair value Situation 2: Rund pays $180.000 cash to acquire all of the Spaldint's assets and liabilities. The fair value of Spaldine pent 34.000 hither than its book value. For the rest assets and liabilities, there is no difference between book value ad fair value