Can you please help me answer this problem?Pawl Corporation acquired 90% of Snab Corporation on January 1, 2020 for $72,000 cash when Snab's stockholders' equity consisted of $30,000 of Capital Stock and $30,000 of Retained Earnings. The difference between the fair value of Pawl's assets and liabilities and the book value was allocated to a plant asset with a remaining 10-year straight-line life that was overvalued on the books by $5,000. The remainder was attributable to goodwill. The separate company statements for Pawl and Snab appear in the first two columns of the partially completed consolidation working papers.Required:Complete the consolidation working papers for Pawl and Snab for the year 2020. Show work. EliminationsConsol-РawiSnabDebitCreditidatedINCOME STATEMENTSales60,000$22,000Income of Snab3,510Cost of SalesDepreciationExpenseotherExpensesNoncontrollingInterest Share(13,000) |9,500)2,000)3,000)( 23,000) |6,100)Net incomeRetainedEarnings 1/1Add:Net incomeLess:DividendsRetainedEarnings 12/31BALANCE SHEETСазhAccountsReceivable-net25,510$ 3,40025,000$30,00025,5103,400( 15,000) (3,000)35,510$30,40026,520$ 7,00022,00010,000Inventories20,00014,000LandEquipment andBuildings-netInvestment inSnab CorporationGoodwill27,00042,00070,00038,00072,810TOTAL ASSETSLIAB. & EQUITYAccounts payable sCapitalStockRetainedEarningsNoncontrollingInterestS 238,330 $111,00032,820$50,600170,00030,00035,51030,400TOTAL LIAB. &EQUITY238,330$111,000

Workings: Preliminary Calculations: Investment cost on January 1, 2020 $ 72,000 $ 72,000 Implied fair value of net assets ($72,000/0.90) $ 80,000 Book value of net assets on January 1, 2020 $ -60,000 Excess implied fair value over book value acquired = $ 20,000 Excess allocated to: Overvalued equipment $ -5,000 Remainder to goodwill $ 25,000 Excess implied fair value over book value $ 20,000 Income from Snab Corporation: Equity in Snab's net income (90%) × (3,400)= $ 3,060 $ 3,060 Depreciation "savings" on equipment $4,500/10 yrs = 450 $ 450 Income from Snab $ 3,510 $ 3,510 Investment in Snab account: Initial investment cost $ 72,000 Plus: Income from Snab $ 3,510 Less: Dividends (3,000) × (90%)= $ -2,700 Investment in Snab at December 31 $ 72,810 Complete the consolidation working papers for Pawl and Snab for the year 2020: Pawl Snab Eliminations Consolidated Debit Credit INCOME STATEMENT Sales $ 60,000 $ 22,000 $ 82,000 Income from Snab $ 3,510 a $ 3,510 Cost of Sales -$ 13,000 -$ 9,500 -$ 22,500 Depreciation Expense -$ 2,000 -$ 3,000 $ 500 -$ 4,500 Other Expenses -$ 23,000 -$ 6,100 -$ 29,100 NoncontrollingInterest Share d $ 390 -$ 390 Net income $ 25,510 $ 3,400 $ 25,510 Retained Earnings 1/1 $ 25,000 $ 30,000 b $ 30,000 $ 25,000 Add:Net income $ 25,510 $ 3,400 $ 25,510 Less: Dividends -$ 15,000 -$ 3,000 d a 3002,700 -$ 15,000 Retained Earnings 12/31 $ 35,510 $ 30,400 $ 35,510 BALANCE SHEET Cash $ 26,520 $ 7,000 $ 33,520 Accounts Receivable-net $ 22,000 $ 10,000 $ 32,000 Inventories $ 20,000 $ 14,000 $ 34,000 Goodwill b $ 25,000 $ 25,000 Land $ 27,000 $ 42,000 $ 69,000 Equipment andBuildings-net $ 70,000 $ 38,000 c $ 500 b $ 5,000 $ 103,500 Investment in Snab Corporation $ 72,810 b a 72,000810 TOTAL ASSETS $ 238,330 $ 111,000 $ 297,020 EQUITIES Accounts payable $ 32,820 $ 50,600 $ 83,420 Capital Stock $ 170,000 $ 30,000 b $ 30,000 $ 170,000 Retained Earnings $ 35,510 $ 30,400 $ 35,510 1/1 Noncontrolling Interest b $ 8,000 12/31 Noncontrolling Interest d $ 90 $ 8,090 TOTAL EQUITIES $ 238,330 $ 111,000 $ 89,400 $ 89,400 $ 297,020