On March 22, 19X4, Viking Travel Corp. paid \(\$ 280,000\) to purchase 80 percent of the common stock of Seaboard Cruise Line, and Seaboard owes Viking \(\$ 67,000\) on a note payable. Immediately after the purchase, the two companies' balance sheets were as follows:

\section*{Required}
1. Prepare a consolidation work sheet.
2. Prepare the consolidated balance sheet on March 22,19X4. Show total assets, total liabilities, and total stockholders' equity. It is not necessary to classify assets and liabilities as current and long-term.

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Cash. Assets Accounts receivable, net... Note receivable from Seaboard. Inventory. Investment in Seaboard.. Plant assets, net. Total..... Liabilities and Stockholders' Equity Accounts payable. Notes payable. Other liabilities.. Viking Travel Corp. $ 41,000 86,000 Seaboard Cruise Line $ 43,000 75,000 67,000 128,000 206,000 280,000 277,000 168,000 $879,000 $492,000 $ 72,000 $ 65,000 301,000 67,000 11,000 10,000 Minority interest. Common stock. 141,000 160,000 Retained earnings.. 354,000 190,000 Total.......... $879,000 $492,000