g. Titan Corporation does not properly adjust the prior 20% investment when it acquires the 60% interest on July 1, 2018. h. The December 31, 2018, trial balances for the three corporations appear as...

g. Titan Corporation does not properly adjust the prior 20% investment when it acquires the 60% interest on July 1, 2018.

h. The December 31, 2018, trial balances for the three corporations appear as follows:

1. Prepare any adjustment needed to the investment account as a result of the July 1, 2018, acquisition.

2. Prepare the worksheet necessary to produce the consolidated financial statements of Titan Corporation and its subsidiaries as of December 31, 2018. Correct the trial balances prior to consolidating. Consolidated retained earnings should be allocated to Titan Corporation, and the NCIs should be shown separately in the Consolidated Balance Sheet column. All supporting computations and schedules should be in good form.