Following are the individual financial statements for Gibson and Davis for the y

Following are the individual financial statements for Gibson and Davis for the year ending December 31 2013: Note: Parentheses indicate a credit balance.
Gibson acquired 60 percent of Davis on April 1 2013 for $528000.
On that date equipment owned by Davis (with a five-year remaining life)
was overvalued by $30000. Also on that date the fair value of the 40
percent noncontrolling interest was $352000. Davis earned income evenly
during the year but paid the entire dividend on November 1 2013.Prepare a consolidated income statement and calculate consolidated balances of: