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Presented below is the Statement of Financial Position of CAE Corporation On the date of acquiation, CAE Corporabion, because of the acquastion, incurred On. issui 20.0 cons - Depreciation method being used is straight line method based on CAE Corporation's company policy. An independent accountant has provided the accurate computation of depreciation expense for the year 2022: BuildingEquipment200,000250,000 - Accumulated Dopreciation is to be presented as net amount on each PPE in the Statement of Financial Position. - The contingent consideration payable had the following fair values for the year 2022: - CAE Corporation reacquired 1,500 shares from its other shareholders (excluding PEN Corporation) at Php 25 per share on November 30, 2022. Additional information for PEN Corporation for the year 2022 are as follows: - On May 5, 2022, PEN Corporation sold its products to GOLDEN Corporation. The former was able to sell 5,250.00 units at Php 30.00 each, and the cost to produce each itern is Php 10.00. The said transaction involved distribution cost of Php2,000. PEN Corporation uses the perpetual inventory system. - On July 16, 2022, PEN Corporation sold 2,000 units to CAE Corporation for Php 14.00 per unit, and CAE sold the said inventories to its outside customers on October 10, 2022 at Php 20.00 per unit. - On December 31, 2022, PEN Corporation declared and paid dividends for Php 1.50 per share. - Depreciation method being used is straight line method based on PEN Corporation's company policy. An independent accountant has provided the accurate computation of depreciation expense for the year 2022: BuildingEquipment10,2505,750 - Accumulated Depreciation is to be presented as net amount on each PPE in the Statement of Financial Position. NOTE: All dividends are charged against Retained Earnings. No need to use Dividends Declared Account. Required: 1. Provide all the journal entries. 2. Provide all the working paper elimination entries. 3. Prepare the Separate and Consolidated Financial Statements December 31, 2022: a. Statement of Comprehensive Income as of December 31, 2022 b. Statement of Retained Earnings December 31, 2022 c. Statement of Financial Position December 31, 2022 Presented below is the Statement of Financial Position of CAE Corporation On the date of acquiation, CAE Corporabion, because of the acquastion, incurred On. issui 20.0 cons - Depreciation method being used is straight line method based on CAE Corporation's company policy. An independent accountant has provided the accurate computation of depreciation expense for the year 2022: BuildingEquipment200,000250,000 - Accumulated Dopreciation is to be presented as net amount on each PPE in the Statement of Financial Position. - The contingent consideration payable had the following fair values for the year 2022: - CAE Corporation reacquired 1,500 shares from its other shareholders (excluding PEN Corporation) at Php 25 per share on November 30, 2022. Additional information for PEN Corporation for the year 2022 are as follows: - On May 5, 2022, PEN Corporation sold its products to GOLDEN Corporation. The former was able to sell 5,250.00 units at Php 30.00 each, and the cost to produce each itern is Php 10.00. The said transaction involved distribution cost of Php2,000. PEN Corporation uses the perpetual inventory system. - On July 16, 2022, PEN Corporation sold 2,000 units to CAE Corporation for Php 14.00 per unit, and CAE sold the said inventories to its outside customers on October 10, 2022 at Php 20.00 per unit. - On December 31, 2022, PEN Corporation declared and paid dividends for Php 1.50 per share. - Depreciation method being used is straight line method based on PEN Corporation's company policy. An independent accountant has provided the accurate computation of depreciation expense for the year 2022: BuildingEquipment10,2505,750 - Accumulated Depreciation is to be presented as net amount on each PPE in the Statement of Financial Position. NOTE: All dividends are charged against Retained Earnings. No need to use Dividends Declared Account. Required: 1. Provide all the journal entries. 2. Provide all the working paper elimination entries. 3. Prepare the Separate and Consolidated Financial Statements December 31, 2022: a. Statement of Comprehensive Income as of December 31, 2022 b. Statement of Retained Earnings December 31, 2022 c. Statement of Financial Position December 31, 2022

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