Amortization expense 275,000?? 11,000?? Interest expense 27,500?? 7,000?? Equity in income of San Marco ????

  

Amortization expense 275,000?? 11,000?? Interest expense 27,500?? 7,000?? Equity in income of San Marco ????(121,500) ???????–0–?? Net income $????(437,000) $??(215,000) Retained earnings, 1/1 $?(2,625,000) $??(395,000) Net income (437,000) (215,000) Dividends declared ????350,000?? ????25,000?? Retained earnings, 12/31 $?(2,712,000) $??(585,000) Current assets $???1,204,000?? $????430,000?? Investment in San Marco 1,854,000?? –0–?? Buildings and equipment 931,000?? 863,000?? Copyrights ????950,000?? ???107,000?? Total assets $???4,939,000?? $??1,400,000?? Accounts payable $????(485,000) $??(200,000) Notes payable (542,000) (155,000) Common stock (900,000) (400,000) Additional paid-in capital (300,000) (60,000) Retained earnings, 12/31 ?(2,712,000) ???(585,000) Total liabilities and equities $?(4,939,000) $(1,400,000) a.At year-end, there were no intra-entity receivables or payables.Determine the consolidated balances for this business combination as of December 31, 2018. b.If instead the noncontrolling interest’s acquisition-date fair value is assessed at $167,500, what changes would be evident in the consolidated statements? only have to do A