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On January $1,2024,$ Skysong Company purchased $8,768$ shares of Concord Company's common stock for $$123,000.$ Immediately

after the stock acquisition, the statements of financial position of Skysong and Concord appeared as follows:

Your answer is correct.

Calculate the percentage of Concord acquired by Skysong Company.

Percentage of Concord acquired

Your answer is partially correct.

Prepare a schedule to compute the difference between book value of equity and the value implied by the purchase price. Any

difference between the book value of equity and the value implied by the purchase price relates to subsidiary plant assets.

$($b$)$

Prepare a consolidated balance sheet workpaper as of January $1,2024.$ Current Attempt in Progress

On January $1,2024,$ Skysong Company purchased $8,768$ shares of Concord Company's common stock for $$123,000.$ Immediately

after the stock acquisition, the statements of financial position of Skysong and Concord appeared as follows:

$($a$1)$

Your answer is correct.

Calculate the percentage of Concord acquired by Skysong Company.

Percentage of Concord acquired

Your answer is partially correct.

Prepare a schedule to compute the difference between book value of equity and the value implied by the purchase price. Any

difference between the book value of equity and the value implied by the purchase price relates to subsidiary plant assets. SKYSONG COMPANY AND SUBSIDIARY CONCO

Consolidated Balance Sheet Workpaper

January $1,2024$ YSONG COMPANY AND SUBSIDIARY CONCORD

Consolidated Balance Sheet Workpaper

January $1,2024$

On January $1,2024,$ Skysong Company purchased $8,768$ shares of Concord Company's common stock for $$123,000.$ Immediately

after the stock acquisition, the statements of financial position of Skysong and Concord appeared as follows:

Calculate the percentage of Concord acquired by Skysong Company.

Your answer is partially correct.

Prepare a schedule to compute the difference between book value of equity and the value implied by the purchase price. Any

difference between the book value of equity and the value implied by the purchase price relates to subsidiary plant assets.

$($b$)$

Prepare a consolidated balance sheet workpaper as of January $1,2024.$