PLEASE COMPLETE REQ A AND B SEE BELOW FOR INFO: On January $1,2020,$ Paloma Corporation exchanged $\backslash (\backslash$$ $1,710,000\backslash )$ cash for $90$ percent of the outstanding voting stock of San Marco Company. The consideration transferred by Paloma provided a reasonable basis for assessing the total January $1,2020,$ fair value of San Marco Company. At the acquisition date, San Marco reported the following owners' equity amounts in its balance sheet: In determining its acquisition offer, Paloma noted that the values for San Marco's recorded assets and liabilities approximated their fair values. Paloma also observed that San Marco had developed internally a customer base with an assessed fair value of $\backslash (\backslash$$ $800,000\backslash )$ that was not reflected on San Marco's books. Paloma expected both cost and revenue synergies from the combination. At the acquisition date, Paloma prepared the following fair$-$value allocation schedule: At December $31,2021,$ the two companies report the following balances:

At year$-$end, there were no intra$-$entity receivables or payables.

a$.$ Determine the consolidated balances for this business combination as of December $31,2021.$

b$.$ If instead the noncontrolling interest's acquisition$-$date fair value is assessed at $$167,500,$ what changes would be evident in the

consolidated statements?

Complete this question by entering your answers in the tabs below.

Required B

Determine the consolidated balances for this business combination as of December $31,2021.($For accounts where multiple consolidation

entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine

all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.$)$

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At year$-$end, there were no intra$-$entity receivables or payables.

a$.$ Assessment Tool iFrame d balances for this business combination as of December $31,2021.$

b$.$ If instead the noncontrolling interest's acquisition$-$date fair value is assessed at $$167,500,$ what changes would be evident in the

consolidated statements?

Complete this question by entering your answers in the tabs below.

Required A

Required B

If instead the noncontrolling interest's acquisition$-$date fair value is assessed at $$167,500,$ what changes would be evident in

the consolidated statements?