Question: Can someone help me solve this: 2 The balance sheets of Percy Corp. and Saltz Ltd. on December 31, Year 10, are shown below: Percy

Can someone help me solve this:

Can someone help me solve this: 2 The balanceCan someone help me solve this: 2 The balance
2 The balance sheets of Percy Corp. and Saltz Ltd. on December 31, Year 10, are shown below: Percy Saltz 10 Cash $ 203, 600 $ 4,900 Accounts receivable 51, 800 15, 800 points Inventory 62, 700 45, 600 Plant 484, 000 197 , 400 Skipped Accumulated amortization (134, 000) (91, 800) Trademarks (net) 15, 800 $ 668, 100 $ 187 , 700 Current liabilities $ 103, 600 $ 21, 800 Long-term debt 165, 400 43, 600 eBook Common shares 221, 800 61, 800 Retained earnings 177, 300 60,500 $ 668, 100 $ 187 , 700 Print The fair values of the identifiable net assets of Saltz Lid. on December 31, Year 10, were as follows: References Cash $ 4,900 Accounts receivable 15, 800 Inventory 53, 800 Plant 129, 000 Trademarks 31, 600 235, 100 Current liabilities $ 21, 800 Long-term debt 39, 800 61, 600 Net assets $ 173, 500 In addition to the assets identified above, Saltz owned a taxi licence in the City of Moose Jaw. This licence expires in nine years. These licences are selling in the open market at approximately $46,500. On January 1, Year 11, Percy Corp paid $177,000 in cash to acquire 7,000 (70%) of the common shares of Saltz Lid. Saltz's shares were trading for $22 per share just after the acquisition by Percy. Required: Prepare the consolidated balance sheet on January 1. Year 11.Required: Prepare the consolidated balance sheet on January 1, Year 11. Percy Corp. Consolidated Balance Sheet January 1, Year 11 Assets $ Liabilities Shareholders' equity 0 0

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