Amber Corporation acquired 60 percent ownership of Sparta Company on January 1, 20X8, at underlying book value. Trial balance data at December 31, 20X9, for Amber and Sparta are as follows:

Sparta Company purchased stock of Row Company on January 1, 20X8, for \(\$ 30.000\) and classified the investment as available-for-sale securities. The value of the Row Company securities increased to \(\$ 40,000\) and \(\$ 44,000\), respectively, at December 31, 20X8, and 20X9.

Light Corporation purchased all the shares of Star Company on January 1, 20X5, for \(\$ 220,000\). The full purchase differential is assigned to goodwill. At December 31, 20X5, the management of Light reviewed the amount attributed to goodwill and concluded goodwill had been impaired and should be reported at \(\$ 8,000\). Light uses the cost method in accounting for its investment in Star.
\section*{Required}
Present all eliminating entries needed to prepare consolidated financial statements for the year 20X5, and prepare a three-part consolidation workpaper in good form as of December 31, \(20 \mathrm{X} 5\).

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Amber Corporation and Sparta Company Balance Sheets December 31, 20X9 Amber Corporation Sparta Company Items Debit Credit Debit Credit Cash $ 18,000 $ 11,000 Accounts Receivable 45.000 21.000 Inventory 40.000 30.000 Buildings and Equipment 585.000 257.000 Investment in Row Company Securities 44.000 Investment in Sparta Company 116.400 Cost of Goods Sold 170,000 97.000 Depreciation Expense Interest Expense Dividends Declared Accumulated Depreciation Accounts Payable Bonds Payable 30.000 10,000 8.000 3.000 40,000 20,000 $ 170,000 $ 95,000 75,000 24.000 100,000 50.000 Common Stock 200,000 100.000 Retained Earnings 231.000 70.000 Accumulated Other Comprehensive Income 6.000 10,000 Other Comprehensive Income from Subsidiary (OCI)-Unrealized Gain on Investments 2.400 Accumulated Other Comprehensive Income 6.000 10.000 Other Comprehensive Income from Subsidiary (OCI)-Unrealized Gain on Investments 2,400 Unrealized Gain on Investments (OCI) Sales Income from Subsidiary 250,000 4.000 140,000 18,000 $1.052.400 $1,052,400 $493.000 $493.000