Question: please help me this homework question. thank you Below are the pre-combination condensed balance sheets of princecraft and sylvan companies just prior to princecraft's acquisition

please help me this homework question. thank you

Below are the pre-combination condensed balance sheets of princecraft and sylvan companies just prior to princecraft's acquisition of 90 percent of the voting shares of sylvan for $43 million in cash. the book value of sylvan company's net assets approximate fair value. the noncontrolling interest in sylvan has a fair value of $4,250,000

Princecraft

company

Sylvan

Company

Cash $60,000,000 $2,000,000
other current assets 20,000,000 8,000,000
property and equipment, net 70,000,000 15,000,000
Total Assets 150,000,000 25,000,000
Total Liabilities $30,000,000 $8,000,000
Common Stock 15,000,000 5,000,000
Additional paid-in capital 45,000,000 10,000,000
Retained Earnings 60,000,000 2,000,000
Total Liabilities and equity $150,000,000 $25,000,000

Required

a. Calculate total Goodwill and its allocation to the controlling and noncontrolling interests.

b. Prepare the consolidation working paper at the date of acquisition.

c. Prepare the consolidated balance sheet at the date of acquisition, in good form.

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