Alpha, Inc., owns Beta Corp. Te two companies individual balance sheets follow: Requirements 1. Prepare a consolidated

Alpha, Inc., owns Beta Corp. Te two companies’ individual balance sheets follow:

Requirements
1. Prepare a consolidated balance sheet of Alpha, Inc. It is sufficient to complete the consolidation work sheet. Use Exhibit 8-7 as a model.
2. What is the amount of stockholders’ equity for the consolidatedentity?

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A1 Alpha, Inc. Consolidation Work Sheet Beta Alpha, inc. Corp Ellminatlon Debit Credit 46,000 20,000 Cash Accounts receivable, net 75,000 52000 29,000 5 Note receivable from Alpha Inventory 56,000 113,000 283,000 29,000 80,000 71 Investment in Beta 8 Plant assets, net 97,000 Other assets 13,000 1 Total 13 Accounts payable $ 49,000-$22,000 148,00033,000 78,000123,000 11200080,000 33,000 602,000 S 291,000 Notes payable Other llabilities Common stock 1Retained earnings 215,000 8 Total