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The balance sheets of E Ltd. and Ltd, on December 30, Year 6, were as follows: Cash and receivables Inventory Plant assets (net) Intangible assets Ltd. $ 96,900 58,00 231,600 24,900 $ 412,200 $ 64,800 99,300 156,600 91. See $ 412,200 3 Ltd. $ 21,300 9.900 72,300 2.800 5 111,300 $ 30,100 45,200 46,600 (10,600 $ 111,300 Current Ilabilities Long-term debt Common shares Retained earnings (deficit) On December 31. Year 6. E Ltd, issued 525 shares, with a fair value of $40 each, for 70% of the outstanding shares of JLtd. Costs involved in the acquisition paid in cash were as follows Costs of arranging the acquisition Costs of issuing shares $ 2,650 1,950 $ 4,540 The carrying amounts of J Ltd's net assets were equal to fair values on this date except for the following: Fair value Plant assets $ 65,900 Long-tere debe 43,600 Eltd. was identified as the acquirer in the combination Required: (6) Prepare the consolidated balansheet of Eltd on December 31 Year 6. under the identifiable net assets method Elid Consolidated Balance Sheet December 31 Year 6 Assets Liabilities and Equity Check my work (b) Prepare the consolidated balance sheet of E Ltd. on December 31, Year 6, under the fair value enterprise method Cd Consolidated Balance Shoe December 31, Your Assets Liabilities and Equity Prey 1 of 4 !!! Next >