Assume Ronny, Inc., paid $362,000 to acquire all the common stock of Bircher Corporation and Bircher owes Ronny $194,000 on a note payable. Immediately after the purchase on September 30, 2016, the two companies' balance sheets appear as follows:

Requirement
Prepare the work sheet for the consolidated balance sheet of Ronny, Inc. Use Exhibit 8-7 as a model.

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Ronny Bircher Assets Cash.... 54,000 196,000 194,000 346,000 381,000 362,000 20,000 88,000 469,000 484,000 Total $1,533,000 $1,061,000 Liabilities and Stockholders' Equity Accounts payable Notes payable Other liabilities 400,000 231,000 588,000 tained earnings.188,000 $ 126,000 75,000 330,000 294,000 254,000 108,000 $1,533,000 $1,061,000 Total.