Consolidated Statements, Minority Interests Consider the following for Chow Company (the parent) as of December 31, 20X8: Chow Subsidiary* Assets $800,000 $200,000 Liabilities to creditors $300,000 $ 80,000 Stockholder's equity 500,000 Total $800,000 120,000 $200,000 *70% owned by Chow. The $800,000 of assets of Chow includes an $84,000 investment in the 70% owned subsidiary. The $84,000 includes Chow's pro rata share of the subsidiary's net income for 20X8. Chow's sales were $870,000 and operating expenses were $802,000. These figures exclude any pro rata share of the sub- sidiary's net income. The subsidiary's sales were $550,000 and operating expenses were $510,000. Prepare a consolidated income statement and a consolidated balance sheet. Assume neither Chow or its subsidiary sold items to the other.