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Tyler Company acquired all of Jasmine Company's outstanding stock on January 1, 2019, for $286,400 in cash. Jasmine had a book value of only
Tyler Company acquired all of Jasmine Company's outstanding stock on January 1, 2019, for $286,400 in cash. Jasmine had a book value of only $220,000 on that date. However, equipment (having an eight-year remaining life) was undervalued by $60,000 on Jasmine's financial records. A building with a 20-year remaining life was overvalued by $15,700. Subsequent to the acquisition, Jasmine reported the following: Dividends Declared Net Income 2019 2020 2021 $ 74,400 $10,000 62,500 47,800 40,000 20,000 In accounting for this investment, Tyler has used the equity method. Selected accounts taken from the financial records of these two companies as of December 31, 2021, follow: Revenues-operating Expenses Equipment (net) Buildings (net) Common stock Retained earnings, 12/31/21 Tyler Company $(312,000) Jasmine Company $(182,000) 233,000 134,200 406,000 98,500 404,000 71,400 (290,000) (53,400) (582,000) (245,000) Determine the following account balances as of December 31, 2021: (Input all amounts as positive values.) a. Investment in Jasmine Company b. Equity in Subsidiary Earnings C. Consolidated Net Income d. Consolidated Equipment (net) e. Consolidated Buildings (net) f. gh Consolidated Goodwill (net) Consolidated Common Stock h. Consolidated Retained Earnings, 12/31/21 Amounts
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