DO NOT PREPARE A CONSOLIDATED WORKSHEET - BUT RATHER PREPARE THE CONSOLIDATED WORKSHEET JOURNAL ENTRIES (such as Journal Entry S, A, I & so forth) FOR 2021 & 2022. ASSUME DURING 2022, SIERRA REPORTS NET INCOME OF $200,000 AND PAID DIVIDENDS OF $70,000.

$$1, 003, 400$ although Sierra's book value was only $$690, 000$ . Also, several individual items on Sierra's financial records had fair values that differed from their book values as follows:

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DO NOT PREPARE A CONSOLIDATED WORKSHEET - BUT RATHER PREPARE THE CONSOLIDATED WORKSHEET JOURNAL ENTRIES (such as Journal Entry S, A, I & so forth) FOR 2021 & 2022. ASSUME DURING 2022, SIERRA REPORTS NET INCOME OF $200,000 AND PAID DIVIDENDS OF $70,000.

$1, 003, 400

although Sierra's book value was only

$690, 000

. Also, several individual items on Sierra's financial records had fair values that differed from their book values as follows:

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