P Corporation acquired 80% of S Corporation on January 1,2017, for $240,000 cash when Ss...
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P Corporation acquired of S Corporation on January for $ cash when Ss stockholders equity consisted of $ of Common Stock and $ of Retained Earnings. The difference between the price paid by P and the underlying equity acquired in S was allocated solely to a patent amortized over years. P sold merchandise to S during the year in the amount of $ $ worth of inventory is still on hand at the end of the year with an unrealized profit of $ The separate company statements for P and S appear in the first two columns of the partially completed consolidated workpaper. Required: Complete the consolidated workpaper for P and S for the year 
P Corporation acquired of S Corporation on January for $ cash when Ss stockholders equity consisted of $ of Common Stock and $ of Retained Earnings. The difference between the price paid by P and the underlying equity acquired in S was allocated solely to a patent amortized over years. P sold merchandise to S during the year in the amount of $ $ worth of inventory is still on hand at the end of the year with an unrealized profit of $ The separate company statements for P and S appear in the first two columns of the partially completed consolidated workpaper.
Required:
Complete the consolidated workpaper for P and S for the year
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