On January 1, 2014, Lennon Corporation acquires 100% of Ono Inc. for $220,000 in cash. The condensed balance sheets of the two corporations immediately following the acquisition are as follows.

Lennon Ono Corporation Inc.

Current assets $ 60,000 $ 50,000 Investment in Ono Inc. common stock 220,000 Plant and equipment (net) 300,000 220,000

$580,000 $270,000 Current liabilities $180,000 $ 50,000 Common stock 230,000 80,000 Retained earnings 170,000 140,000

$580,000 $270,000 Instructions Prepare a worksheet for a consolidated balance sheet.