a$)$ Complete a Book Value, Fair Value, Change schedule to determine the values of Intangibles and Goodwill at acquisition as well as their ending values.

b$)$ Prepare a Schedule of Equity in Net Income and Dividends.

c$)$ Prepare a consolidating worksheet as of the end of $2023$ using proper report headings.P$5\mathrm{.}6$ ConsolidationWorking Paper,SeveralYears Since Acquisition On January $1,2015,$PrimValley

Resorts acquired a $70$ percent interest in Silverstem Casinos for $$602$ million in cash and stock. The fol$-$

lowing information is available at the date of acquisition $($in millions$)$:

The previously unrecorded identifiable intangibles have indefinite lives. In the years since this acqui$-$

sition, intense competition and a declining economic outlook led to reduced projected performance

for this property. Testing indicated impairment of the identifiable intangibles by a total of $$50$ million

as of the end of $2022,$ and $$20$ million additional impairment occurred in $2023.$ The entire goodwill

balance associated with this property was written off prior to $2023.$ The December $31,2023,$ trial bal$-$

ances of Prim Valley and Silverstem follow. Prim Valley uses the complete equity method to report

the investment on its own books.

a$)$ Complete a Book Value, Fair Value, Change schedule to determine the

values of Intangibles and Goodwill at acquisition as well as their ending

values.

b$)$ Prepare a Schedule of Equity in Net Income and Dividends.

c$)$ Prepare a consolidating worksheet as of the end of $2023$ using proper

report headings.