Chapter 5 Quiz Python acquired 75% of Slither's stock for $316 million in cash on January 2, 2015. The fair value of the noncontrolling interest in Slither was $89 million. Slither's book value at that time was $120 million. The assets and liabilities reported on Slither's balance sheet had balances that approximated fair value at the date of acquisition. However, Slither had previously unreported developed technology (10 year life, straight-line), valued at $40 million. There has been no impairment loss on the developed technology since acquisition. Goodwill was impaired $6 million in 2015, and a $3 million impairment loss should be recorded for 2016. It is now December 31, 2016. The trial balances of Python and Slither appear below. Python Slither (in thousands) Dr (Cr) Or (Cr) Current assets $ 113,500 $ 35,000 Plant assets, net 1,200,000 600,000 Investment in Slither 823,800 Liabilities (1,342,950 387,000) Capital stock (40,000) (20,000 Retained earnings, Jan. 1 (215,000) (110,000) Accumulated other comprehensive income, Jan. 1 (15,000) (10,000) Treasury stock 5,000 Sales revenue (400,000) 100,000 Equity in net income of Slither 2,100) Equity in OCI of Slither 2,250) Cost of goods sold 250,000 35,000 Amortization and depreciation expense 40,000 15,000 Other operating expenses 95,000 40,000 Other comprehensive income (5,000) (3,000) Total S Provide the consolidated financial statements as of December 31, 2016. Turn in ONLY the consolidated financial statements (not your work). Please write your name and ID number