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so points Aline Company acquired all of Melody Company's outstanding stock on January 1, 2022, for $300,000 in cash. Melody had a book value of
so points Aline Company acquired all of Melody Company's outstanding stock on January 1, 2022, for $300,000 in cash. Melody had a book value of only $202,000 on that date. However, equipment (having an eight-year remaining life) was undervalued by $72,000 on Melody's financial records. A building with a 20-year remaining life was overvalued by $20,000 In accounting for this investment, Aline used the equity method. During 2022, Melody reported net income of 64,000 and declared and paid dividends of $12.000 Selected accounts taken from the financial records of these two companies as of December 31, 2022, follow Aline Melody Revenue $425,000 $162,000 Operating Expenses 278,000 98,000 Equity in Melody Earnings Equipment 402,000 68,000 (net) Buildings 356,000 84,000 (net) Common 470.000 58.000 Stock Retained 580,000 196.000 cimin 12/31.22 Determine the following account balances as of December 31, 2022 (Do not add dollar sign, do not add comme to your amount, round the answer to the whole number 1. Consolidated Net Income (al 2. Consolidated Equipment (net) [b] 3. Consolidated Buildings (net) (c) 4. Consolidated Goodwill (o) [d] S. Consolidated Retained Lamines. 12/31/22 (0) so points Aline Company acquired all of Melody Company's outstanding stock on January 1, 2022, for $300,000 in cash. Melody had a book value of only $202,000 on that date. However, equipment (having an eight-year remaining life) was undervalued by $72,000 on Melody's financial records. A building with a 20-year remaining life was overvalued by $20,000 In accounting for this investment, Aline used the equity method. During 2022, Melody reported net income of 64,000 and declared and paid dividends of $12.000 Selected accounts taken from the financial records of these two companies as of December 31, 2022, follow Aline Melody Revenue $425,000 $162,000 Operating Expenses 278,000 98,000 Equity in Melody Earnings Equipment 402,000 68,000 (net) Buildings 356,000 84,000 (net) Common 470.000 58.000 Stock Retained 580,000 196.000 cimin 12/31.22 Determine the following account balances as of December 31, 2022 (Do not add dollar sign, do not add comme to your amount, round the answer to the whole number 1. Consolidated Net Income (al 2. Consolidated Equipment (net) [b] 3. Consolidated Buildings (net) (c) 4. Consolidated Goodwill (o) [d] S. Consolidated Retained Lamines. 12/31/22 (0)
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