Amber Corporation acquired 60 percent ownership of Sparta Company on January 1, 20X8, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 40 percent of the book value of Sparta Company. Trial balance data at December 31, 20X8, for Amber and Sparta are as follows:

Additional Information
Sparta purchased stock of Row Company on January 1, 20X8, for $30,000 and classified the investment as available-for-sale securities. The value of Row’s securities increased to $40,000 at December 31, 20X8.

Required
a. Give all elimination entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8.
b. Prepare a three-part consolidation worksheet for 20X8 in good form.
c. Prepare a consolidated balance sheet, income statement, and statement of comprehensive income for20X8.

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Amber Corporation Debit Sparta Company Debit Item Credit Credit $ 27,000 65,000 40,000 500,000 Cash Accounts Receivable Inventory Buildings & Equipment Investment in Row Company Securities Investment in Sparta Company Cost of Goods Sold Depreciation Expense Interest Expense Dividends Declared Accumulated Depreciation Accounts Payable Bonds Payable Common Stock Retained Earnings Other Comprehensive Income from Subsidiary (OCI)-Unrealized Gain $ 8,000 22,000 30,000 235,000 40,000 108,000 150,000 30,000 8,000 24,000 110,000 10,000 3,000 15,000 $140,000 63,000 100,000 200,000 208,000 S 85,000 20,000 50,000 100,000 60,000 6,000 on Investments Unrealized Gain on Investments (OCI) Sales Income from Subsidiary 10,000 148,000 220,000 15,000 $952,000 $952,000 $473,000 $473,000