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show working please Problem 4-12 m e Year LOZ On Inc. and ERS Company for the year ended ERS condensed Financial statements On 500 TORO
show working please
Problem 4-12 m e Year LOZ On Inc. and ERS Company for the year ended ERS condensed Financial statements On 500 TORO Relined amnings 12/31/Years STIKKO TO 312.000 R ives and inventory Pred technology (net) tet 60 000 51 216.000 Thes 5 5422.000 17 000 6 .000 538.000 96,INO Common shares Retained earnings Total liabilities and equities 316,00 $1,216.000 32.112.00 On December 31, Year 5 after the above figures were prepared OIL issued S252,000 in debt and 12.000 new shares to the owners of ERS for 90% of the outstanding shares of that company. OIL shares had a fair value of S48 per share OIL also paid $38,000 to a broker for arranging the transaction. In addition, OIL paid $40,000 in stock issuance costs. ERS's equipment was actually worth $706,000, but its patented technology was appraised at only $288,000. Required What are the consolidated balances for the year ended/at December 31. Year 5. for the following accounts? (a) Net income (b) Retained earnings, 1/1/Year 5 (c) Equipment (d) Patented technology (e) Goodwill (1) Liabilities CHAPTER 4 Consolidation of Non-Wholl (g) Common shares (h) Non-controlling interest Problem 4-13Step by Step Solution
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