Problem $3-36($Algo$)($LO $3-3$a$)$

Tyler Company acquired all of Jasmine Company$$s outstanding stock on January $1,2022,$ for $$207,400$ in cash. Jasmine had a book value of only $$138,000$ on that date. However, equipment $($having an eight$-$year remaining life$)$ was undervalued by $$67,200$ on Jasmine$$s financial records. A building with a $20-$year remaining life was overvalued by $$17,200.$ Subsequent to the acquisition, Jasmine reported the following:

Year Net Income Dividends Declared

$2022$ $ $75,900$ $ $10,000$

$202383,10040,000$

$202448,60020,000$

In accounting for this investment, Tyler has used the equity method. Selected accounts taken from the financial records of these two companies as of December $31,2024,$ follow:

Accounts Tyler Company Jasmine Company

Revenues$$operating $ $(310,000)$ $ $(146,000)$

Expenses $227,00097,400$

Equipment $($net$)460,00064,500$

Buildings $($net$)344,00073,800$

Common stock $(290,000)(50,400)$

Retained earnings, $12/31/24(606,000)(173,000)$

Required:

Determine the following account balances as of December $31,2024$:

Amounts

a$.$ Investment in Jasmine Company

b$.$ Equity in Subsidiary Earnings

c$.$ Consolidated Net Income

d$.$ Consolidated Equipment $($net$)$

e$.$ Consolidated Buildings $($net$)$

f$.$ Consolidated Goodwill $($net$)$

g$.$ Consolidated Common Stock

h$.$ Consolidated Retained Earnings, $12/31/24$