a. Prepare all consolidating entries needed to prepare a three-part consolidation worksheet as of December 31, 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a1.record basic consolidation entry

a2.record the amortized excess value reclassification entry

a3.record the excess value (differential) reclassification entry

a4.record the optional accumulated depreciation consolidation entry

b. Prepare a three-part consolidation worksheet for 20X9. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)

c-1. Prepare a consolidated balance sheet for 20X9. (Amounts to be deducted should be indicated with a minus sign.)

c-2. Prepare a consolidated income statement for 20X9.

c-3. Prepare a retained earnings statement for 20X9.

Price Corporation acquired 100 percent ownership of Saver Company on January 1, 20X8, for $128,000. At that date, the fair value of Saver's buildings and equipment was $20,000 more than the book value. Accumulated depreciation on this date was $30,000. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, Price's management concluded at December 31, 20X8, that goodwill involved in its acquisition of Saver shares had been impaired and the correct carrying value was $2,500. No additional impairment occurred in 209. Trial balance data for Price and Saver on December 31, 20X9, are as follows: Price Corporation Debit Credit 32,000 $ 45,500 Accounts Receivable Inventory 97,000 50,000 350,000 142,500 145,000 Buildings & Equipment Investment in Saver Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from Saver Company 114,000 23,000 16,000 $ 170,000 $ 50,000 150,000 200,000 131,000 290,000 200,000 $1,040,000 $1,040,000 $429,000 $429,000