Question $5$:

On January $1,2015,$ John Doe Enterprises $($JDE$)$ acquired a $55\backslash \%$ interest in Bubba Manufacturing, Inc. $($BMI$).$ JDE paid for the transaction with $\backslash$$$3$ million cash and $500,000$ shares of JDE common stock $($par value $\backslash (\backslash$$ $1\mathrm{.}00\backslash )$ per share$).$ At the time of the acquisition, BMI's book value was $\backslash (\backslash$$ $16,970,000\backslash ).$

On January $1,$ JDE stock had a market value of $\backslash (\backslash$$ $14\mathrm{.}90\backslash )$ per share and there was no control premium in this transaction. Any consideration transferred over book value is assigned to goodwill. BMI had the following balances on January $1,2015.$ For internal reporting purposes, JDE employed the equity method to account for this investment.

The following account balances are for the year ending December $31,2015$ for both companies.

REQUIRED: Prepare a consolidation worksheet for this business combination. Assume goodwill has been reviewed and there is no goodwill impairment.