On January $1,2023,$ Mona, Incorporated, acquired $80$ percent of Lisa Company$$s common stock as well as $60$ percent of its preferred shares. Mona paid $$82,000$ in cash for the preferred stock, with a call value of $110$ percent of the $$50$ per share par value. The remaining $40$ percent of the preferred shares traded at a $$51,000$ fair value. Mona paid $$588,000$ for the common stock. At the acquisition date, the noncontrolling interest in the common stock had a fair value of $$147,000.$ The excess fair value over Lisa$$s book value was attributed to franchise contracts of $$74,000.$ This intangible asset is being amortized over a $40-$year period. Lisa pays all preferred stock dividends $($a total of $$25,000$ per year$)$ on an annual basis. During $2023,$ Lisa$$s book value increased by $$74,000.$

On January $2,2023,$ Mona acquired one$-$half of Lisa's outstanding bonds payable to reduce the business combination's debt position. Lisa's bonds had a face value of $$100,000$ and paid cash interest of $8$ percent per year. These bonds had been issued to the public to yield $10$ percent. Interest is paid each December $31.$ On January $2,2023,$ these bonds had a total $$93,660$ carrying amount. Mona paid $$53,465,$ indicating an effective interest rate of $6$ percent.

On January $3,2023,$ Mona sold Lisa fixed assets that had originally cost $$117,000$ but had accumulated depreciation of $$60,000$ when transferred. The transfer was made at a price of $$154,000.$ These assets were estimated to have a remaining useful life of $10$ years.

The individual financial statements for these two companies for the year ending December $31,2024,$ are as follows:

Accounts Mona, Incorporated Lisa Company

Sales and other revenues $ $(534,000)$ $ $(234,000)$

Expenses $237,000137,000$

Dividend income$$Lisa common stock $(21,600)0$

Dividend income$$Lisa preferred stock $(15,000)0$

Net income $ $(333,600)$ $ $(97,000)$

Retained earnings, $1/1/24$ $ $(717,000)$ $ $(534,000)$

Net income $($above$)(333,600)(97,000)$

Dividends declared$$common stock $109,80027,000$

Dividends declared$$preferred stock $025,000$

Retained earnings, $12/31/24$ $ $(940,800)$ $ $(579,000)$

Current assets $ $147,419$ $ $517,000$

Investment in Lisa$$common stock $588,0000$

Investment in Lisa$$preferred stock $82,0000$

Investment in Lisa$$bonds $51,8330$

Fixed assets $1,117,000817,000$

Accumulated depreciation $(317,000)(217,000)$

Total assets $ $1,669,252$ $ $1,117,000$

Accounts payable $ $(411,452)$ $ $(107,472)$

Bonds payable $0(100,000)$

Discount on bonds payable $03,472$

Common stock $(317,000)(217,000)$

Preferred stock $0(117,000)$

Retained earnings, $12/31/24(940,800)(579,000)$

Total liabilities and equities $ $(1,669,252)$ $ $(1,117,000)$

Note: Credits are indicated by parentheses.

Required:

Assume that consolidated financial statements are being prepared for the year ending December $31,2024.$ Calculate the consolidated balance for each of the following accounts:

Franchises

Fixed Assets

Accumulated Depreciation

Expenses