Several of Saxon's assets had fair values different from their book values at the acquisition date, as follows: In addition, Saxon had previously unrecorded identifiable intangible assets valued at $875 million, with a 5-year life, straight-line a. Prepare a schedule to compute equity in net income of Saxon for 2022 , and the December 31,2022 balance for Investment in Saxon, as reported on Paxon's books. instructions: 1. Enter all answers in millions. Round all answers to the nearest million, when appropriate. 2. Use negative signs with answers that reduce equity in net income and the investment account balance. (b) Use a working paper to consolidate the trial balances of Paxon and Saxon at December 31, 2022. (c) Prepare the consolidated balance sheet at December 31, 2022, and the consolidated income statement for 2022. INSTRUCTIONS: Do not use negative signs with any of your answers below for the balance sheet and income statement. Several of Saxon's assets had fair values different from their book values at the acquisition date, as follows: In addition, Saxon had previously unrecorded identifiable intangible assets valued at $875 million, with a 5-year life, straight-line a. Prepare a schedule to compute equity in net income of Saxon for 2022 , and the December 31,2022 balance for Investment in Saxon, as reported on Paxon's books. instructions: 1. Enter all answers in millions. Round all answers to the nearest million, when appropriate. 2. Use negative signs with answers that reduce equity in net income and the investment account balance. (b) Use a working paper to consolidate the trial balances of Paxon and Saxon at December 31, 2022. (c) Prepare the consolidated balance sheet at December 31, 2022, and the consolidated income statement for 2022. INSTRUCTIONS: Do not use negative signs with any of your answers below for the balance sheet and income statement