16) P Company purchased 90% of the outstanding common stock of Company on January 1, 2013. s Company's stockholders' equity at various dates was: Common stock Retained earnings Total 1/1/13 $400,000 120,000 $520,000 1/1/17 $400,000 380,000 $780,000 12/31/17 $400,000 460,000 $860,000 The workpaper entry to establish reciprocity under the cost method in the preparation of a consolidated statements workpaper on December 31, 2017 should include a credit to P Company's retained earnings of: a) $80,000. $234,000. $260,000. d) $306,000 17 Prime Industries acquired a 70 percent interest in Suburbia Company by purchasing 14,000