Shutter Company owns 90 percent of the stock of Pleasantdale Dairy. The balance sheets of the two companies immediately after the acquisition of Pleasantdale showed the following amounts:

At the date of acquisition, Pleasantdale owed Shutter \(\$ 8,000\) plus \(\$ 900\) accrued interest. The accrued interest had been recorded by Pleasantdale, but not by Shutter. Any differential relates to land.
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Prepare and complete a consolidated balance sheet workpaper.

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Cash and Receivables Inventory Land Buildings and Equipment (net) Investment in Pleasantdale Stock Total Assets Current Payables Long-Term Liabilities. Common Stock Shutter Company $ 130,000 210,000 70.000 Pleasantdale Dairy $ 70,000 90,000 40,000 220,000 390,000 270,000 $1,070.000 $420,000 $ 80.000 200,000 $ 40.000 100.000 400,000 60.000 Retained Earnings 390.000 220,000 Total Liabilities and Stockholders' Equity $1,070,000 $420,000