Please include steps of calculation as well when possible, thank you Plaza, Inc., acquires 80 percent of the outstanding

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Please include steps of calculation as well when possible, thankyou
Plaza, Inc., acquires 80 percent of the outstanding common stockof Stanford Corporation on January 1, 2021, in exchange for$862,000 cash. At the acquisition date, Stanford’s total fairvalue, including the noncontrolling interest, was assessed at$1,077,500. Also at the acquisition date, Stanford's book value was$533,900.
Several individual items on Stanford’s financial records hadfair values that differed from their book values as follows:
For internal reporting purposes, Plaza, Inc., employs the equitymethod to account for this investment. The following accountbalances are for the year ending December 31, 2021, for bothcompanies.
At year-end, there were no intra-entity receivables orpayables.
Prepare a worksheet to consolidate the financial statements ofPlaza, Inc., and its subsidiary Stanford. (Foraccounts where multiple consolidation entries are required, combineall debit entries into one amount and enter this amount in thedebit column of the worksheet. Similarly, combine all creditentries into one amount and enter this amount in the credit columnof the worksheet. Input all amounts as positivevalues.)

Please Include Steps Of Calculation As Well When Possible Thank You Plaza Inc Acquires 80 Percent Of The Outstanding 1 (35.45 KiB) Viewed 11 times

Accounts Revenues Cost of goods sold Depreciation expense Amortization expense Equity in income of Stanford Net income Consolidated net income NCI share of CNI Plaza share of CNI Retained earnings. 1/1/21 Net income Dividends declared Retained earnings, 12/31/21 Current assets Investment in Stanford Tradenames Property and equipment (net) Patents Goodwill Total assets Accounts payable Common stock Additional paid-in capital Noncontrolling interest Retained earnings, 12/31 Total liabilities and equities $ $ PLAZA CORPORATION AND STANFORD CORPORATION Consolidation Worksheet For Year Ending December 31, 2021 Plaza Stanford (714,600) $ (669,900) 406,900 285,500 182,400 26,100 20,400 $ 0 (266,400) (391,700) $ (1,032,300) (391,700) 229,400 0 S (337,900) $ (1,194,600) $ (795,500) $ 627,700 $ 333,400 1,108,400 175,600 740,500 0 $ 2,652,200 $ (104,200) (217,200) (1,136,200) (1,194,600) (2,652,200) $ (482,600) (337,900) 25,000 0 273,900 182,700 88,800 878,800 (32,000) (50,000) (1.300) Consolidation Entries Debit Credit (795,500) S (878,800) $ 0 $ Noncontrolling Interest Consolidated Totals