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Prevost Company wires all of the voting stock of Sofia Industries for 350 million in cash and accounts for the acquisition as a stock acquisition Balance sheet information at the date of acquisition is as follows in millions Sofie Dr DE DEC Current 310 Investment in so Sofia has previously reported idenifable intangibles with a fair value of 125 million sofaelects to use pushdown accounting as of the date of acquisition Required 2. Prepare the enery Sola makes on its own books at the date of acquisition Enter answers in Description BABE Credie erable . Currentes . b. Prepare the consolidation eliminating entry or entries necessary to comolidate the balance sheets of Prevost and Sofia at the date of cuisition Enter anwers in ons Description Debit Investment in Sofia Prevost Company wires all of the voting stock of Sofia Industries for 350 million in cash and accounts for the acquisition as a stock acquisition Balance sheet information at the date of acquisition is as follows in millions Sofie Dr DE DEC Current 310 Investment in so Sofia has previously reported idenifable intangibles with a fair value of 125 million sofaelects to use pushdown accounting as of the date of acquisition Required 2. Prepare the enery Sola makes on its own books at the date of acquisition Enter answers in Description BABE Credie erable . Currentes . b. Prepare the consolidation eliminating entry or entries necessary to comolidate the balance sheets of Prevost and Sofia at the date of cuisition Enter anwers in ons Description Debit Investment in Sofia

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