7 points On May 1, 2021. Manama Co, acquired all of the voting shares of Sitra Co, by issuing 15.000 shares of $2 par value and 522 fair value each and 54.000 in stock issuance costs. Manama and Sitra reported the following account balances. Assume that Sitra's building was undervalued by $38,200 and equipment was overvalued by $10.000 Partial Consolidated Worksheet Sheet Account Manama Sitra Consolidation entries Debit Credit Current assets $342. 200 $78,300 Investment in Sitra Co. 7 0 Building 631,500 209,000 Equipment 34,700 307,000 Goodw 0 0 Total assets 51.338 400 3594.300 Liables 438.400) (334,300) Common stock (100.000) 150.000) Additional paid-in capital (200,000 0 Retained earnings (600.000) (210.0001 Total abilities and equity 51.338.400 55942.00 Required: (7 Points) 1. Prepare the journal entry to record Maname investment in Sitra Co (please leave a line between entries) 2. Prepare consolidation entries 'S' and 'A' that are necessary to complete the worksheet. (please leave a line between entries) 3. Explain why a subsidiary's revenues and expenses are not consolidated on date of acquisition For the toolbar.press ALT FOIPO ALTFF10 ( MC. B IVS Paragraph Aria 144 I. 0