Question: Data for the Lennon and Ono corporations are presented in E12-13. Assume that instead of paying $220,000 in cash for Ono Inc., Lennon Corporation pays

Data for the Lennon and Ono corporations are presented in E12-13. Assume that instead of paying $220,000 in cash for Ono Inc., Lennon Corporation pays $225,000 in cash. Thus, at the acquisition date, the assets of Lennon Corporation are: Current assets $55,000, Investment in Ono Inc. common stock $225,000, and Plant and equipment (net) $300,000.

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Prepare a worksheet for a consolidated balance sheet.

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