Question: explain the answer in an easy and understand way ADDITIONAL INFORMATION 1. All Sle's assets and liabilities were recorded at fair values equal to book

explain the answer in an easy and understand way

ADDITIONAL INFORMATION 1. All Sle's assets and liabilities were recorded at fair values equal to book values on January 3, 2011. 2. The current liabilities of Sle at December 31, 2012 include dividends payable of $20,000. REQUIRED: Determine the amounts that should appear in the consolidated statements of Por Corporation and Subsidiary at December 31, 2012, for each of the following: 1. Noncontrolling interest share. 2. Current assets. 3. Income from Sle. 4. Capital stock. 5. Investment in Sle. 6. Excess of investment fair value over book value. 7. Consolidated net income for the year ended December 31, 2012. 8. Consolidated retained earnings, December 31, 2011. 9. Consolidated retained earnings, December 31, 2012. 10. Noncontrolling interest, December 31, 2012

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