Plug Motors’ accountant was called away after completing only half of the consolidated statements at the end of 20X4. The data left behind included the following:

a. Plug Motors acquired shares of Spark Body Shop at underlying book value on January 1, 20X1. What portion of the ownership of Spark Body Shop does Plug apparently hold?

b. Compute the consolidated totals for each of the remaining balance sheet items.

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Item Cash Accounts Receivable Inventory Buildings & Equipment (net) Investment in Spark Body Shop Total Debits Accounts Payable Notes Payable Common Stock Retained Earnings Total Credits Plug Motors $ 40,000 180,000 220,000 300,000 150,000 $890,000 $ 30,000 400,000 200,000 260,000 $890,000 Spark Body Shop $ 20,000 30,000 50,000 290,000 $390,000 $ 40,000 200,000 100,000 50,000 $390,000 Consolidated $60,000 200,000 270,000 590,000 $1,120,000