REQUIRED

A$.$ Set up the income statement, statement of retained earnings and balance sheet for Tater and

Tot in work paper format for later consolidation. Make sure your statements BALANCE before

you go any further!

B$.$ Prepare a chart to reconcile the change in the Investment in Tot from the date of purchase,

January $1,2021,$ to December $31,2022.$ Make sure you have totals for year$-$end $2021$ and $2022$

so any manager reading the chart can easily see what is driving changes in the investment

balance. Use a single underline before the year$-$end totals, but I recommend highlighting that

row in a different color and not using a double underline below the numbers.

C$.$ Prepare all $2022$ General Journal entries and consolidation entries in proper journal entry form,

but separate according to type since the consolidation entries are NOT made in the books of

either company $-$ just used to facilitate the consolidation on the worksheet.

D$.$ Transfer all consolidation entries into the working papers and consolidate.