Reconstructing Eliminating Entries and Book Value Cove Corporation owns all of Bay Corporation's common stock, acquired for $65 million in cash. Immediately prior to the acquisition, Cove reported current assets of $75 million, noncurrent assets of $100 million, and liabilities of $90 million. The date ofacquisition consolidated balance sheet reports consolidated total assets of $186 million, including goodwill of $37 million related to the acquisition of Bay. The book values of Bay's identifiable assets and liabilities approximated their fair values, except for previously unreported identifiable intangibles with a fair value of $16 million. Required a. Calculate the fair value of Bay's identifiable total assets at the date of acquisition $ 0 x million b. Calculate the fair value of Bay's liabilities at the date of acquisition. $0 x million c. Calculate the book value of Bay's net assets at the date of acquisition $0 x million d. Prepare the working paper eliminating entries to consolidate Cove and Bay at the date of acquisition, Enter answers in millions. Ref. Description Debit Credit (E) (R) Identifiable intangibles XX