Using Excel, Compute consolidated balances for Innovus and Chip Tech. Either use a worksheet approach or compute Revenues Cost of goods sold Depreciation expense Amortization expense Dividend income Net income Retained Earnings 1/1 Net income Dividends paid Retained Earnings 12/31 Current Assets Investment in Chiptech Equipment Trademark Existing technology Goodwill Total Assets Liabilities Common Stock Additional paid-in capital Retained Earnings 12/31 Total Liabilities and equity Innovus (990,000) 500,000 100,000 55,000 (40,000) (375,000) (1,555,000) (375,000) 250,000 (1,680,000) 960,000 670,000 765,000 235,000 450,000 3,080,000 (780,000) (500,000) (120,000) (1,680,000) (3,080,000) the balances directly. Chip Tech (210,000) 90,000 5,000 18,000 [ E ) - I I ) (97.000) (450,000) (S) (97,000) 40,000 (507,000) 355,000 i C J 225,000 100,000 (A) 45,000 ( A ) t A J 725,000 (88,000) (100,000) (S) (30,000) ( S ) (507,000) (725,000) Adjustments 20,000 40,000 45 0, 000 60,000 36,000 64,000 50,000 100, 000 30,000 850,000 (C) (I) (S) (A) (E) (E) 60,000 40,000 580,000 150,000 4, 000 16,000 850,000 Consolidated (1,200,000) 590,000 105,000 93,000 (412,000) (1,615,000) (412,000) 250,000 (1,777,000) 1,315,000 0.00 990,000 367,000 93,000 500,000 3,265,000 (868,000) (500,000) (120,000) (1,777,000) (3,265,000)