Problem IV$.(45$ points$).$ Recommended Time: $30$ minutes.

Continuing with the fact pattern in Problem III, the following activity occurred from $2021$

to $2024$:

Instructions:

$1.$ Prepare a T$-$account for Investment in Sanders. Properly label all the activity since the

January $1,2021$ acquisition through $2024,$ showing the balance at December $31,2024.$

$2.$ Prepare the Consolidation Worksheet Entries for $2024.$

$3.$ Using the three $(3)$ worksheets, prepare the consolidated balances at December $31,$

$2024.$

$1.$ Prepare a T$-$account for Investment in Sanders. Properly label the activity since

the January $1,2021$ acquisition through $2024$:

Sander's

Sander's

Year

Dividends

Net Income

$2021$

$ $30,000$

$ $140,000$

$2022$

$40,000$

$90,000$

$2023$

$50,000$

$110,000$

$2024$

$70,000150,000$