On Jan 1 , 2 0 2 4 , Paldea's Real Estate acquired 6 0 of Scarlet Inc for $ 1 5 0 , 0 0 0 of no par value common stock At this time, Scarlet's assets and liabilities were assessed for fair value and found to have the following balances ( note , these amounts are also in the excel file ) The following bullet points are relevant to the year 2 0 2 4 Scarlet reported $ 3 5 , 0 0 0 of net income Scarlet declared and paid $ 1 5 , 0 0 0 of dividends Scarlet uses FIFO, so all of its inventory turned over during the year The PPE with a fair value differential has an estimated useful life of 2 5 years from acquisition date The Intangible Assets listed on Scarlet's balance sheet are NOT amortized and were NOT impaired Goodwill from the acquisition of Scarlet was impaired by $ 2 , 0 0 0 During the year, Scarlet sold inventory to Paldea for $ 1 0 5 , 0 0 0 This inventory had an original cost to Scarlet of $ 7 3 , 5 0 0 Paldea resold 8 0 of this inventory to non affiliates during the year On Dec 3 1 , 2 0 2 4 , Paldea still owed Scarlet $ 2 5 , 0 0 0 for the inventory purchased This is held as an account payable by Paldea and an account Receivable by Scarlet Required a ) On the first worksheet labelled Acquisition Date of the attached excel file, give Paldea's Journal Entry to record the acquisition of Scarlet's stock b ) On the first worksheet labelled Acquisition Date of the attached excel file, calculate any relevant differences between Scarlet's fair value and book value Also fill in the fair value differential ( including goodwill if any ) on this date and calculate the allocation of the differential between between Paldea and Scarlet's NCI in cells J 1 4 and J 1 5 c ) On the first worksheet labelled Acquisition Date of the attached excel file, complete the acquisition date consolidation worksheet Also give any consolidation entries below the worksheet Note, there were no existing intercompany payables receivables on Jan 1 , 2 0 2 4 d ) On the second worksheet labelled End of year 1 of the attached excel file, give the Dec 3 1 , 2 0 2 4 Differential for Scarlet, allocate the differential between Paldea and Scarlet's NCI, and give any JE's Paldea needs to record for 2 0 2 4 in regards to its investment in Scarlet e ) On the second worksheet labelled End of year 1 of the attached excel file, complete the Dec 3 1 , 2 0 2 4 consolidation worksheet Also give any consolidation entries below the worksheet

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On Jan  1 , 2 0 2 4 , Paldea's Real Estate acquired 6 0   of Scarlet Inc  for $ 1 5 0 , 0 0 0 of no par value common stock  At this time, Scarlet's assets and liabilities were assessed for fair value and found to have the following balances ( note , these amounts are also in the excel file )   The following bullet points are relevant to the year 2 0 2 4   Scarlet reported $ 3 5 , 0 0 0 of net income Scarlet declared and paid $ 1 5 , 0 0 0 of dividends Scarlet uses FIFO, so all of its inventory turned over during the year  The PPE with a fair value differential has an estimated useful life of 2 5 years from acquisition date  The  Intangible Assets  listed on Scarlet's balance sheet are NOT amortized and were NOT impaired  Goodwill from the acquisition of Scarlet was impaired by $ 2 , 0 0 0 During the year, Scarlet sold inventory to Paldea for $ 1 0 5 , 0 0 0   This inventory had an original cost to Scarlet of $ 7 3 , 5 0 0   Paldea resold 8 0   of this inventory to non   affiliates during the year  On Dec  3 1 , 2 0 2 4 , Paldea still owed Scarlet $ 2 5 , 0 0 0 for the inventory purchased  This is held as an account payable by Paldea and an account Receivable by Scarlet  Required  a ) On the first worksheet labelled  Acquisition Date  of the attached excel file, give Paldea's Journal Entry to record the acquisition of Scarlet's stock  b ) On the first worksheet labelled  Acquisition Date  of the attached excel file, calculate any relevant differences between Scarlet's fair value and book value  Also fill in the fair value differential ( including goodwill if any ) on this date and calculate the allocation of the differential between between Paldea and Scarlet's NCI in cells J 1 4 and J 1 5   c ) On the first worksheet labelled  Acquisition Date  of the attached excel file, complete the acquisition date consolidation worksheet  Also give any consolidation entries below the worksheet  Note, there were no existing intercompany payables   receivables on Jan  1 , 2 0 2 4   d ) On the second worksheet labelled  End of year 1   of the attached excel file, give the Dec  3 1 , 2 0 2 4 Differential for Scarlet, allocate the differential between Paldea and Scarlet's NCI, and give any JE's Paldea needs to record for 2 0 2 4 in regards to its investment in Scarlet  e ) On the second worksheet labelled  End of year 1   of the attached excel file, complete the Dec  3 1 , 2 0 2 4 consolidation worksheet  Also give any consolidation entries below the worksheet

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Question: On Jan. 1 , 2 0 2 4 , Paldea's Real Estate acquired 6 0 % of Scarlet Inc. for $ 1 5 0 ,

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