Trial Balance Consolidation Working Paper, First and Second Years On January 1, 2022, Pacnet Communications acquired all of the stock of SecureWorks Inc. at a cost of $50,000,000 in cash. The $44,000,000 excess of acquisition cost over book value was allocated as follows: Excess of Fair Value over Book Value Plant assets Subsequent Reporting Identifiable intangible assets. Goodwill $(15,000,000) 20-year life, straight-line 4,000,000 55,000,000 5-year life, straight-line $44,000,000 Impairment loss 2022, $1,000,000; 2023, $1,500,000 Both companies have December 31 year-ends. Trial balances of Pacnet and SecureWorks at December 31, 2022 and 2023, appear below. Pacnet uses the complete equity method to report its investment in SecureWorks on its own books. Current assets Plant assets, net. Identifiable intangible assets. Investment in SecureWorks Liabilities.. Capital stock.. Pacnet, December 31 2023 Dr (Cr) $ 4,000,000 56,200,000 800,000 2022 Dr (Cr) $ 3,000,000 48,000,000 1,000,000 SecureWorks, December 31 2023 Dr (Cr) $ 3,500,000 45,000,000 2022 Dr (Cr) $ 2,000,000 42,000,000 52,900,000 51,950,000 (85,000,000) (80,000,000) (37,000,000) (35,000,000) (5,000,000) (5,000,000) (1,000,000) (1,000,000) Retained earnings, beginning. (18,950,000) (12,000,000) (8,000,000) (5,000,000) Sales revenue.. (110,000,000) (100,000,000) (65,000,000) (60,000,000) Equity in net income of SecureWorks. (950,000) (1,950,000) Cost of sales.. 82,000,000 80,000,000 46,000,000 45,000,000 Operating expenses 24,000,000 15,000,000 16,500,000 12,000,000 Total $ 0 $ 0 $ 0 $ 0 Required a. Prepare a working paper to consolidate the trial balances of Pacnet and SecureWorks at December 31, 2022, and prepare a consolidated balance sheet at December 31, 2022, and a consolidated income statement for 2022. Repeat the requirements of a. for the year 2023