unsure if i completed correctly

LO 42,496 27. Parker, Inc., acquires 70 percent of Sawyer Company for $420,000. The remaining 30 percent of Sawyer's outstanding shares continue to trade at a collective value of $174,000. On the acquisition dato, Sawyer has the following accounts: Book Fair Value Value Current assets $210,000 $210,000 Land 170,000 180,000 Buildings 300,000 330,000 Liabilities (280,000) (280,000) The buildings have a 10-year remaining life. In addition, Sawyer holds a patent worth $140,000 that has a five-year remaining life but is not recorded on its financial records. At the end of the year, the two companies report the following balances: Parker Sawyer Revenues ${900.000) 5(600,000) Expenses 600,000 400.000 a Assume that the acquisition took place on January 1. What figures would appear in a consolidated income statement for this year? b. Assume that the acquisition took place on April 1. Sawyer's revenues and expenses occurred uniformly throughout the year. What amounts would appear in a consolidated income statement for this year? 6 3 Annual Excess Amortization 594000 (400000) 194000 Life 140000 5 years 10000 30000 10 year 14000 0 28000 5 1. Acquisition-date total fair value Book value of net assets 7 Fair value in excess of book value 3 Excess fair value assigned to Patent 0 Land 1 Buildings 2 Goodwill 3 Total 4 5 6 Consolidated figures following January 1 acquisition date: 7 Combined revenues 8 Combined expenses 9 Consolidated net income 0 NCI in Sawyer's income ([200,000 - 31,000) * 30%) 1 Controlling interest in consolidated net income 2 3 3,000 1500000 (1031000) 469,000 (50700) 418300 4