The stockholders’ equity section of Caritas Corporation’s balance sheet appeared as follows on December 31:

Swanson Manufacturing Company owns 80 percent of Caritas’s voting stock and paid $11.20 per share. In journal form, prepare the entry (including minority interest) to eliminate Swanson’s investment and Caritas’s stockholders’ equity that would appear on the work sheet used in preparing the consolidated balance sheet for the two firms.
Consolidated Balance Sheet with Goodwill

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Common stock, $10 par value, 80,000 shares authorized and issued $800,000 Retained earnings 96,000 Total stockholders' equity $896,000