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Also assume the following information $($in millions$)$:

Information concerning revaluations is as follows:

Revaluation of current assets relate to inventories sold in $2019.$

The revalued property, plant and equipment has a $10-$year life, straight$-$line.

No impairment is reported for goodwill.

Revaluation of current liabilities relates to liabilities settled in $2019.$

Revaluation of noncurrent liabilities relates to liabilities settled prior to $2023.$

income of $$900$ and other comprehensive losses of $$15.$

For the questions below, show your answers in millions, and round to the nearest million.

Note: Do not round intermediate calculations $-$ only round final answers.

Required

a$.$ Calculate the balance in the investment account, reported on IBM's books on July $1,2019,$ and on December $31,2023.$

July $1,2019$$

December $31,2023$$$22,985$Consolidation Eliminating Entries, Several Years Since Acquisition

In July $2019,$ IBM Corporation acquired all of the outstanding stock of Red Hat Software. Cash paid for outstanding Red Hat stock totaled $$20,881$ million. In addition, stock$-$based compensation awards attributable to pre$-$

combination services had a fair value of $$104$ million, and stock issued to holders of vested performance share units were valued at $$63$ million. Acquisition$-$related legal and advisory fees of $$113$ million were paid in cash.

Compensation related to employee retention plans for the period following the acquisition, paid in cash in $2019,$ totaled $$138$ million. An estimated $$111$ million associated with these retention plans remains to be paid in

future years. Red Hat's balance sheet at the date of acquisition, plus fair value information, are as follows $($in millions$)$:Also assume the following information $($in millions$)$:

Information concerning revaluations is as follows:

Revaluation of current assets relate to inventories sold in $2019.$

The revalued property, plant and equipment has a $10-$year life, straight$-$line.

No impairment is reported for goodwill.

Revaluation of current liabilities relates to liabilities settled in $2019.$

Revaluation of noncurrent liabilities relates to liabilities settled prior to $2023.$

income of $$900$ and other comprehensive losses of $$15.$

For the questions below, show your answers in millions, and round to the nearest million.

Note: Do not round intermediate calculations $-$ only round final answers.

Required

a$.$ Calculate the balance in the investment account, reported on IBM's books on July $1,2019,$ and on December $31,2023.$

July $1,2019$$$21,048$

December $31,2023???$

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