1. Suppose that on January 1,2019, " X " acquired 80%(8,000 shares) of the shares of " K " for $288,000. What journal entry would "X" make to record the shares acquired from "K" Company? a. The balance sheet of both companies immediately after the acquisition of the shares is as follows: a. Calculate and allocate the difference between the book value and the implicit value. b. Prepares consolidated balance sheet after acquisition