Mid-year legal entity merger: closing source balances without retained earnings carryforward

We are supporting a customer with the following business requirement in Oracle Fusion General Ledger:

When a company legally ceases following a mid-year merger, the customer requires:

• No journal entries with accounting dates after cessation.
• No non-zero balances, including retained earnings opening balances, for the ceased company in the following year.
• The company’s final pre-merger income statement and balance sheet to remain correctly reportable.

The source ledger contains multiple companies represented by primary balancing segment values. Other companies continue using this ledger after the merger.

The receiving company is in a different ledger, and the transferred assets and liabilities have already been recorded there. However, current-year profit or loss remains in the source company’s income statement accounts.