You are responsible for preparing the consolidated balance sheet of Princecraft and its new subsidiary, Sylvan, at the date of acquisition. The consolidation working paper as of the date of acquisition appears below. Sylvans assets and liabilities are reported at fair value, except that its plant and equipment is overvalued by $15,000,000, and it has previously unreported developed technology, which meets the requirements for capitalization per ASC Topic 805, valued at $20,000,000.

Required

a. Fill in the consolidation working paper.

b. Prepare the consolidated balance sheet, in good form.

(in millions)	Princecraft Dr (Cr)	Sylvan Dr (Cr)	Dr	Cr	Consolidated Dr (Cr)
Current assets	$ 100	$ 15
Plant and equipment, net	500	95
Investment in Sylvan	80
Identifiable intangible assets
Goodwill
Liabilities	(450)	(85)
Capital stock	(120)	(30)
Retained earnings	(90)	4
AOCI	(20)	(1)
Treasury stock	--	2
Total	$ 0	$ 0