Good Corporation acquired 80 percent ofthe outstanding stock of Morning, Inc., on January 1, 2006, LO6 for $1,400,000 in cash, debt, and stock. One of Morning’s buildings, with a 10-year remaining life, was undervalued on the company’s accounting records by $80,000. Also, Morning’s newly developed unpatented technology, with an estimated 10-year life, was assessed to have a fair value of $550,000. During subsequent years. Morning reports the following:

Net Income Dividends Paid 2006

$180,000

$100,000 2007 200,000 100,000 2008 300,000 100,000 2009 400,000 120.000 The following trial balances are for these two companies as of December 31, 2009. Morning owes Good $100,000 as of this date.
Debits Cash.
Receivables.
Inventory.
Investment in Morning.
Land.
Buildings(net).
Operatingexpenses.
Dividends paid.
Total debits.
Credits Liabilities.
Commonstock.
Additional paid-in capital.
Retained earnings, 1/1/09.
Revenues.
Dividendincome.
Totalcredits.
Good Morning $ 300,000 $ 200,000 700,000 400,000 400,000 500,000 1,400,000 -0-
700,000 600,000 300,000 700,000 400,000 100,000 380,000 120,000 $4,580,000 $2,620,000 $ 200,000 $ 620,000 1,000,000 460,000 600,000 40,000 1,800,000 1,000,000 884,000 500,000 96,000 -0-
$4,580,000 $2,620,000 Using the purchase method, prepare consolidated financial statements for this business combination for 2009.