10.00 points Fineline Pencil Company acquired 70 percent of Smudge Eraser Corporation's stock on January 2, 20X3, for $88,900 cash. Summarized balance sheet data for the companies on December 31, 20x2, are as follows: Fineline PencilS Smudge Eraser Corporation Company Fair Value Book Value Fair Value Book Value Cash Other Assets $202,000 $202,000 69,000 69,000 406,000 406,000 131,000 131,000 Total Debits $608,000 $200,000 Current Liabilities $ 93,000 93,000 $ 73,000 73,000 69,000 58,000 Common Stock Retained Earnings Total Credits 283,000 232,000 $608,000 $200,000 Required: Prepare a consolidated balance sheet immediately following the acquisition. FINELINE PENCIL COMPANY AND SUBSIDIARY Consolidated Balance Sheet January 2, 20x3 Assets Total Assets Liabilities and Stockholders' Equity Total Liabilities and Stockholders' Equity