Additional Information

$-$ Every year, goodwill is evaluated to determine if there has been a loss. The recoverable amount for ENS's goodwill was valued at $\backslash (\backslash$$ $100,000\backslash )$ at the end of Year $7$ and $\backslash (\backslash$$ $75,000\backslash )$ at the end of Year $8.$

$-$ RAV's inventories contained $\backslash (\backslash$$ $450,000\backslash )$ of merchandise purchased from ENS at December $31,$ Year $8,$ and $\backslash (\backslash$$ $350,000\backslash )$ at December $31,$ Year $7.$ During Year $8,$ sales from ENS to RAV were $\backslash (\backslash$$ $650,000\backslash ).$ Merchandise was priced at the same profit margin as applicable to other customers. RAV owed $\backslash (\backslash$$ $182,000\backslash )$ to ENS at December $31,$ Year $8,$ and $\backslash (\backslash$$ $190,000\backslash )$ at December $31,$ Year $7.$

$-$ On July $1,$ Year $5,$ ENS purchased a building from RAV for $\backslash (\backslash$$ $782,000\backslash ).$ The building had an original cost of $\backslash (\backslash$$ $832,000\backslash )$ and a carrying amount of $\backslash (\backslash$$ $632,000\backslash )$ on RAV's books on July $1,$ Year $5.$ ENS estimated the remaining life of the building was $15$ years at the time of the purchase from RAV.

$-$ ENS rented another building from RAV throughout the year for $\backslash (\backslash$$ $6,000\backslash )$ per month.

$-$ RAV uses the equity method of accounting for its long$-$term investments.

$-$ Both companies pay tax at the rate of $\backslash (40\backslash \%\backslash ).$ Ignore deferred income taxes when allocating and recording changes to the acquisition differential.

Required:

$($a$)$ Prepare a consolidated income statement for the year ended December $31,$ Year $8.($Enter your answers in thousands of dollars. Round your "Shareholders of RAV" and "Non$-$controlling interest" answers to $1$ decimal place. Input all values as positive numbers.$)($b$)$ Prepare the current assets; property, plant, and equipment; and intangible assets sections of the consolidated balance sheet at December $31,$ Year $8.($Enter your answers in thousands of dollars.$)$