Rand Corp. acquired 100% of Spaulding Inc. on December 31, 2012. Spaulding was dissolved right afterwards. Please prepare the journal entry for consolidation under two situations Revenues Expenses Rand Corp. $ 372,000 Spaulding Ing. $108,000 (264,000) (72,000) 25.000 $133.000 Q $36.000 Equity in subsidiary earnings Net income Retained earnings, January 1, 2012 Net income (above) Dividends paid Retained earnings, December 31, 2012 Current assets Investment in Spaulding Inc. Buildings (net) Equipment (net) Total asets Liabilities Common stock Additional paid-in capital Retained earnings, December 31, 2012 (above) Total liabilities and stockholders' equity $ 765,000 133,000 (84,000) S.814.000 $ 150,000 242,000 525,000 389.250 $1.300.250 $82,250 360,000 50,000 14.000 $1.306.230 $102,000 36,000 (24,000) $114.000 $22,000 0 85,000 129.000 $236.000 $ 50,000 72.000 0 114.000 $236.000 Corp and Spaulding the C Situation 1 Rand pay $200,000 wine all of the Spaulding's asses and abilis The fair value of Spains Equipe is 14000 higher than is book rabe For the rest and abilities, no difle beren boek vale and fair value