? Prepare consolidated financial statements when goodwill is present.This is a continuation of the prior tab $($Investments with Goodwill$).$ ?Information is repeated below.

On January $1,20$X$4,$ ?Acme Corporation acquired $100\%$ ?of the outstanding common stock of Coyote, a foreign company $($amounts translated to USD$).$ ?To acquire these shares, Acme issued

to the owners of Coyote $$200,000$ ?in long$-$term liabilities and $20,000$ ?shares of common stock having a par value of $$1$ ?per share but a fair value of $$20$ ?per share. Acme paid $$30,000$ ?to

accountants, lawyers, and brokers for assistance in the acquisition and another $$12,000$ ?in connection with stock issuance costs.

Prior to these transactions, the balance sheets for the two companies were as follows:

Acme's appraisal of Coyote's fair values deemed three accounts to be undervalued: Inventory by $$5,000,$ ?Land by $$20,000,$ ?and Buildings by $$30,000.$ ?Acme plans to maintain Coyote's separate

legal identity and to operate Coyote as a wholly owned subsidiary.

To verify the answers found in Part $2,$ ?adjust Acme's column of accounts for the journal entries in Part $1$ ?and then prepare a worksheet to consolidate the balance sheets of these two

companies at the acquisition date.