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You can see all the question if you see the pictures correctly On January 1,2019 , Lindsey, Inc., a US based firm, acquired 100% of

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On January 1,2019 , Lindsey, Inc., a US based firm, acquired 100% of Agee PLC located in Great Britain for consideration paid of 52,000,000 British pounds (), which was equal to fair value. The excess of fair value over book value is attributable to land. Lindsey accounts for its investment in Agee at cost. On January 1, 2019, Agee reported the following balance sheet: Agee's 2019 income was recorded at 2,000,000. It declared and paid no dividends in 2019. On December 31,2020 , two years after the date of acquisition, Agee submitted the following trial balance to Lindsey for consolidation: Other than paying dividends, no intra-entity transactions occurred between the two companies. Relevant US dollar exchange rates for the British pound follow: The December 31,2020 , financial statements (before consolidation with Agee) follow. Dividend income is the US dollar amount of dividends received from Agee translated at $1.65/ exchange rate at January 30,2020 . The amounts listed for dividend income and all affected accounts reflect the $1.65/ exchange rate at January 30,2020 . Credit balances are in parentheses. Given the relevant exchange rates presented, a) Translate Agee's December 31, 2020, trial balance from British pounds to US dollars. b) Prepare a schedule that details the change in Agee's cumulative translation adjustment for 2019 and 2020. c) Prepare the December 31,2020 , consolidation worksheet for Lindsey and Agee. d) Prepare the 2020 consolidated income statement and the December 31,2020 , consolidated balance sheet. Bonus Opportunity (up to 25 points): Each spreadsheet should be programmed so that all relevant amounts adjust appropriately when different values of exchange rates (subsequent to January 1,2019 ) are entered into it. On January 1,2019 , Lindsey, Inc., a US based firm, acquired 100% of Agee PLC located in Great Britain for consideration paid of 52,000,000 British pounds (), which was equal to fair value. The excess of fair value over book value is attributable to land. Lindsey accounts for its investment in Agee at cost. On January 1, 2019, Agee reported the following balance sheet: Agee's 2019 income was recorded at 2,000,000. It declared and paid no dividends in 2019. On December 31,2020 , two years after the date of acquisition, Agee submitted the following trial balance to Lindsey for consolidation: Other than paying dividends, no intra-entity transactions occurred between the two companies. Relevant US dollar exchange rates for the British pound follow: The December 31,2020 , financial statements (before consolidation with Agee) follow. Dividend income is the US dollar amount of dividends received from Agee translated at $1.65/ exchange rate at January 30,2020 . The amounts listed for dividend income and all affected accounts reflect the $1.65/ exchange rate at January 30,2020 . Credit balances are in parentheses. Given the relevant exchange rates presented, a) Translate Agee's December 31, 2020, trial balance from British pounds to US dollars. b) Prepare a schedule that details the change in Agee's cumulative translation adjustment for 2019 and 2020. c) Prepare the December 31,2020 , consolidation worksheet for Lindsey and Agee. d) Prepare the 2020 consolidated income statement and the December 31,2020 , consolidated balance sheet. Bonus Opportunity (up to 25 points): Each spreadsheet should be programmed so that all relevant amounts adjust appropriately when different values of exchange rates (subsequent to January 1,2019 ) are entered into it

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