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Balances at 12/31/20 Before Adjustment: Plug Inc. Book Plug Inc. Tesla Book Value Value FMV Cash $450,000 $40,000 $40,000 Current Assets $280,000 $130,000 $150,000 Investment in Kid, inc. $900,000 Land $130,000 $80,000 $120,000 Building (Net) $500,000 $150,000 $220,000 Equipment (Net) $320,000 Goodwill $0 Accounts Payable -$92,000 -$50,000 Common Stock -$800,000 -$100,000 Paid-In Capital -$1,600,000 -$450,000 Equity in Kids NI $0 Retained Earnings - -$218.000 -$50,000 12/31/20 Dividends $800,000 $400,000 Revenues -$8.900,000 -$2,300,000 Expenses 8230000 2150000 On 1/1/20 Tesla purchases 100% of Plug Inc. for $900,000 cash. Plug Inc.'s net assets on 1/1/20 is $600,000. Assume that Current assets have a remaining useful life of 1 year, and the building has a remaining useful life of 10 years. Required: Prepare a consolidation worksheet at December 31, 2020 using the initial Value method of Accounting Balances at 12/31/20 Before Adjustment: Plug Inc. Book Plug Inc. Tesla Book Value Value FMV Cash $450,000 $40,000 $40,000 Current Assets $280,000 $130,000 $150,000 Investment in Kid, inc. $900,000 Land $130,000 $80,000 $120,000 Building (Net) $500,000 $150,000 $220,000 Equipment (Net) $320,000 Goodwill $0 Accounts Payable -$92,000 -$50,000 Common Stock -$800,000 -$100,000 Paid-In Capital -$1,600,000 -$450,000 Equity in Kids NI $0 Retained Earnings - -$218.000 -$50,000 12/31/20 Dividends $800,000 $400,000 Revenues -$8.900,000 -$2,300,000 Expenses 8230000 2150000 On 1/1/20 Tesla purchases 100% of Plug Inc. for $900,000 cash. Plug Inc.'s net assets on 1/1/20 is $600,000. Assume that Current assets have a remaining useful life of 1 year, and the building has a remaining useful life of 10 years. Required: Prepare a consolidation worksheet at December 31, 2020 using the initial Value method of Accounting

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