Amber Corporation acquired 60 percent ownership of Sparta Company on January 1, 20X8, at underlying book value. Trial balance data at December 31, 20X8, 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 \(\$ 40,000\) at December \(31,20 \times 8\).
\section*{Required}

a. Give all eliminating entries needed to prepare a three-part consolidation workpaper as of December 31, 20X8.

b. Prepare a three-part consolidation workpaper for \(20 \mathrm{X} 8\) in good form.

c. Prepare a consolidated balance sheet, income statement, and statement of comprehensive income for \(20 \mathrm{X} 8\).

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Amber Corporation and Sparta Company Balance Sheets December 31, 20X8 Amber Corporation Sparta Company Debit Items Debit Credit Credit Cash $ 27.000 $ 8.000 Accounts Receivable 65.000 22.000 Inventory 40.000 30,000 Buildings and Equipment 500.000 235.000 Investment in Row Company Securities 40,000 Investment in Sparta Company 108.000 Cost of Goods Sold 150,000 110,000 Depreciation Expense Interest Expense 30.000 10,000 8.000 3.000 Dividends Declared Accumulated Depreciation Accounts Payable 24.000 15,000 $140,000 $ 85,000 63.000 20.000 Bonds Payable 100.000 50,000 Common Stock 200,000 100.000 Retained Earnings Other Comprehensive Income from Subsidiary (OCI)-Unrealized Gain on Investments 208.000 60.000 6.000 Unrealized Gain on Investments (OCI) Sales Income from Subsidiary 220.000 10.000 148.000 15.000 $952.000 $952.000 $473,000 $473.000