#2. On Dec 31st 2020, Pip's Puppy Company = Parent Corporation purchases 75% of the stock of Keira's Kitten Company = Subsidiary for $725,000 cash. On that date, Keira's kittens had the following balances: Book Value FMV Cash Accts Rec $15,000 $25,000 Land Inventory Equipment $55,000 $75,000 $100,000 $180,000 $320,000 $375,000 Accum Dep ($70,000) Accts Payable ($40,000) Bonds Payable Common Stock ($225,000) ($250,000) ($30,000) Paid in Capital ($95,000) Retained Earnings ($55,000) -$0- Required: a. Record the purchase of the 75% Stock Acquisition on the Books of the Parent b. Complete the Determination & Distribution of Excess Schedule c. Prepare the Consolidated Worksheet Entries d. Complete the Consolidated Worksheet