On February $1,2024,$ Bloom Company purchased $\backslash (95\backslash \%\backslash )$ of the outstanding common stock of Donna Company and $\backslash (85\backslash \%\backslash )$ of the outstanding common stock of Kenneth Company. Immediately before the two acquisitions, balance sheets of the three companies were as follows:

The following additional information is relevant.

$1.$ One week before the acquisitions, Bloom Company had advanced $\backslash (\backslash$$ $10,000\backslash )$ to Donna Company and $\backslash (\backslash$$ $4,700\backslash )$ to Kenneth Company. Donna Company recorded an increase to Accounts Payable for its advance, but Kenneth Company had not recorded the transaction.

$2.$ On the date of acquisition, Bloom Company owed Donna Company $\backslash (\backslash$$ $12,300\backslash )$ for purchases on account, and Kenneth Company owed Bloom Company $\backslash (\backslash$$ $3,400\backslash )$ and Donna Company $\backslash (\backslash$$ $5,500\backslash )$ for such purchases. The goods purchased had all been sold to outside parties prior to acquisition.

$3.$ Bloom Company exchanged $13,300$ shares of its common stock with a fair value of $\backslash (\backslash$$ $13\backslash )$ per share for $\backslash (95\backslash \%\backslash )$ of the outstanding common stock of Donna Company. In addition, stock issue fees of $\backslash (\backslash$$ $5,000\backslash )$ were paid in cash. The acquisition was accounted for as a purchase.

$4.$ Bloom Company paid $\backslash (\backslash$$ $44,200\backslash )$ cash for the $\backslash (85\backslash \%\backslash )$ interest in Kenneth Company.

$5.3,250$ dollars of Donna Company's notes payable and $\backslash (\backslash$$ $10,200\backslash )$ of Kenneth Company's notes payable were payable to Bloom Company.

$6.$ Assume that for Donna, any difference between book value and the value implied by the purchase price relates to subsidiary land. However, for Kenneth, assume that any excess of book value over the value implied by the purchase price is due to overvalued buildings. $($a$)$

Give the book entries to record the two acquisitions in the accounts of Bloom Company. $($If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

$($To record acquisition of Donna Co$.)$

$($To record acquisition of Kenneth Co$.)$

Prepare a consolidated balance sheet at the date of acquisition for Bloom Company and its subsidiaries. $($Round answers to $0$ decimal places, e$.$g$.125.$ List assets in order of liquidity. List Property, plant and equipment in order of land, buildings and equipment.$)$

BLOOM COMPANY AND SUBSIDIARIES Consolidated Balance Sheet February $1,2024$

Assets $\backslash$$