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You are responsible for preparing the consolidated balance sheet reparing the consolidated balance sheet of Princecraft and its new subsidiary, Sylvan, at the date of

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You are responsible for preparing the consolidated balance sheet reparing the consolidated balance sheet of Princecraft and its new subsidiary, Sylvan, at the date of acquisition. The consolidation working pap the date of acquisition appears below. Sylvan's assets and liabilities are repor value, except that its plant and equipment is overvalued by s plant and equipment is overvalued by $15,000,000, and it has previously unreported developed technology, whic reported developed technology, which meets the requirements for capitalization per ASC Topic 805, valued at $20,000,000. assets and liabilities are reported at fair Required Fill in the consolidation working paper. Prepare the consolidated balance sheet, in good form. Princecraft Dr (Cr) $ 100 500 80 Sylvan Dr (Cr) $ 15 Consolidated Dr (Cr) I (in millions) Current assets Plant and equipment, net Investment in Sylvan Identifiable intangible assets Goodwill Liabilities Capital stock Retained earnings AOCI Treasury stock (450) (120) (90) (20) Total $ 0 $0

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