3. Balance sheet data for Abbot Corporation and its subsidiaries, the Burr Co and December 31, 20X8, appears as follow: Abbot Corporation Current Assets Investment: In Burr Co (4.500 shares) In Car Inc (7.000 shares) Plant and Machinery Other assets 1,250,000 Current Liabilities Bonds Payable 75,000 Capital Stock (Nopar) 175,000 Add. Paid in Capital 1,000,000 R/E 33,500 233,500 600,000 1,000,000 200,000 500,000 Total Assets 2,533,500 Total liabilities and stockholders' equity 2,533,500 Burr Co. Current Assets Plant and Machinery Other assets 70,000 50,000 85,000 Current Liabilities 105,000 Bonds Payable 15,000 Capital Stock (Nopar, 5.000 shares) Deficit 100,000 (15,000) Total Assets Total liabilities and 205,000 stockholders' equity 205,000 Carl Inc. Current Assets Plant and Machinery Other assets 84,000 190,000 Current Liabilities 85,000 Capital Stock (Nopar, 10,000 10.000 shares) Add. Paid in Capital R/E 100,000 65,000 36,000 Total Assets 285,000 Total liabilities and stockholders' equity 285,000 Stock of the Burr Co. was acquired at the end of 20X4 for 115.500. At that time the Burr Co. showed a R/E balance of 40.000. The excess of book value over cost was attributed to a decline in the market value of land held by Burr Co. The Burr Co. reported a loss of 10.000 for 20X8, BUT the loss has not yet been recognized on the books of the parent. Stock of Carl Inc. was acquired at the end of 20X6 for 161.000. At that time Carl Inc showed a R/E balance of 5.000. Carl Inc reported net income of 15,000 for 20X8 and declared a dividend of 4.000 which is included in the current liability total. The parent has made no entries for the subsidiary net income or for the dividend in 20x8. and has made no provision for the amortization of goodwill. The Abbot Corporation current receivables include 6.000 from the Burr Co and 500 from can inc. The subsidiaries show corresponding payable balances. Q: 1. Prepare worksheet for the consolidated balance sheet. (37.5 Points) 2. Prepare a consolidated balance sheet. (37.5 Points)