The following are preliminary financial statements for Black Co. and Blue Co. for the year ending December 31, 2021, prior to Black's acquisition of Blue Co. 
On December 31, 2021 (subsequent to the preceding statements), Black exchanged 10,000 shares of its $10 par value common stock for all of the outstanding shares of Blue. Black's stock on that date has a fair value of $50 per share. Black was willing to issue 10,000 shares of stock because Blue's land was appraised at $204,000. Black also paid $14,000 to attorneys and accountants who assisted in creating this combination.Required: Assuming that these two companies retained their separate legal identities, prepare a consolidation worksheet as of December 31, 2021.
Definitions:
Beliefs
Individual or collective convictions and attitudes that are accepted as true, often without empirical evidence.
Orgasms
Intense physical pleasure and peak of sexual stimulation characterized by rhythmic contractions of genital muscles, often accompanied by the release of sexual tension.
Shere Hite
A sexual educator and feminist known for her work on female sexuality, particularly the Hite Report.
Lengthy Answers
Responses or explanations that are extended or detailed, often involving complexity or depth in the subject matter.
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