December $31,2024.$ The fair value of Carne's common stock at December $31,2024,$ was $$34\mathrm{.}50$ per share.

The book value of Carne's net assets was $$208$ million.

The fair value of Carne's depreciable assets exceeded their book value by $$48$ million. These assets had an average remaining useful life of twelve years.

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

Required:

Complete the table below and prepare the appropriate journal entries related to the investment during $2024.$

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Calculation

General

Journal

Complete the table below.

Note: Enter your answers in millions, $($i$.$e$.,10,000,000$ should be entered as $10).$

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