Only Part A : $\backslash$table$[[,$Consolidation Entries,Consolidated$],[,$Innovus,ChipTech,Debit,Credit$],[$Revenues$,(990,000),(210,000),,,(1,200,000)],[$Cost of Goods Sold,$500,000,90,000,,,590,000],[$Depreciation Expense,$100,000,5,000,,,105,000],[$Amortization Expense,$55,000,18,000,20,000,,93,000],[$Dividend Income,$(40,000),-,40,000,,-],[$Net Income,$(375,000),(97,000),,,(412,000)\_],[$Retained Earnings $1/1,(1,555,000),(450,000),450,000,60,000,(1,615,000)],[$Net Income,$(375,000),(97,000),,,(412,000)],[$Dividends Declared,$250,000,40,000,,40,000,250,000],[$Retained Earnings $12/31,(1,680,000),(507,000),,,(1,777,000)\_],[$Current Assets,$960,000,355,000,,,1,315,000],[$Investment in ChipTech,$670,000,,60,000,580,000,],[,,,,150,000,-],[$Equipment $($net$),765,000,225,000,,,990,000],[$Trademark$,235,000,100,000,36,000,4,000,367,000],[$Existing Technology,$-,45,000,64,000,16,000,93,000],[$Goodwill$,450,000,-,50,000,,500,000],[$Total Assets,$3,080,000,725,000,,,3,265,000],[,,,,,],[$Liabilities$,(780,000),(88,000),,,(868,000)],[$Common Stock,$(500,000),(100,000),100,000,,(500,000)],[$Additional Paid$-$in$-$Capital,$(120,000),(30,000),30,000,,(120,000)],[$Retained Earnings $12/31,(1,680,000),(507,000),,,(1,777,000)],[$Total Liabilities and Equity,$(3,080,000),(725,000),850,000,850,000,(3,265,000)\_]]$

Please help with explaining the arrival of the consolidated entries :

For instance,

Amortization Expense is

Trademark $40,000/10=4,000$

Existing Technology $80,000/5=16,000$

$4,000+16,000=20,000($Debit$)$

On January $1,2020,$ Innovus, Inc., acquired $100$ percent of the common stock of ChipTech Company for $$670,000$ in cash and other

fairvalue consideration. ChipTech's fair value was allocated among its net assets as follows:

Fair value of consideration transferred for ChipTech

$$670,000$

Book value of ChipTech:

Common stock and Additional Paid$-$In Capital $($APIC$)$

Retained earnings

Excess fair value over book value to

Trademark $(10-$year remaining life$)$

Existing technology $(5-$year remaining life$)$

Goodwill

The December $31,2021,$ trial balances for the parent and subsidiary follow $($there were no intra$-$entity payables on that date$)$:

Required

a$.$ Using Excel, compute consolidated balances for Innovus and ChipTech. Either use a worksheet approach or compute the balances

directly.

b$.$ Prepare a second spreadsheet that shows a $2021$ impairment loss for the entire amount of goodwill from the ChipTech acquisition.