December $31,2024.$ The falr value of Carne's common stock at December $31,2024,$ was $$27\mathrm{.}50$ per share.

The book value of Carne's net assets was $$180$ million.

The fair value of Carne's depreclable assets exceeded their book value by $$28$ million. These assets had an average remaining

useful life of seven years.

The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to

goodwill.

Requlred:

Complete the table below and prepare the approprlate journal entrles related to the Investment during $2024.$

Complete this question by entering your answers in the tabs below.

Prepare the appropriate journal entries related to the investment during $2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in

millions, $($i$.$e$.,10,000,000$ should be entered as $10).$

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

Record the fair value adjustment at year$-$end.

Note: Enter debits before credits.