Abbey Holdings Ltd. owns a 60 percent interest in Morton Inc. Prepare a consolidation worksheet using the information below. Assume that the two of Morton Inc.'s sit liabilities are equal to their book values Click the icon to view the financial information.) ter be fair va Morton fd Assets Inc. Cash Abbey Holdings Ltd. $ 96,000 $ 214,000 5 on the Accounts receivable, net Note receivable from Morton Inc. 52,000 152,000 78,000 Inventory Investment in Morton Inc. 248.000 230,000 244,000 Property, plant, and equipment, net 736,000 64,000 318,000 52,000 Other assets Total assets $ 1,680,000 $ 804,000 Liabilities and Shareholders' Equity Accounts payable Notes payable $ 118,000 $ 82,000 136.000 112,000 Other liabilities 324 non 24 nnn Print Done Sheet. Property, plant, and equipment, net r Other assets 736.000 64,000 318,000 52,000 Total assets $ $ 1,680,000 $ 804,000 118,000 $ Liabilities and Shareholders' Equity Accounts payable Notes payable Other liabilities Non-controlling interest Common shares 82,000 112,000 136,000 204,000 324.000 790,000 432,000 204,000 82.000 Retained earnings $ 1,680,000 $ 804,000 Total liabilities and shareholders' equity Let's prepare the consolidation worksheet for Abbey Holdings Ltd. First we need to record elimination entries in order to avoid double-counts on the consolidated statements. Then we can complete the consolidation worksheet (Enter a "0" when there is a zero balance for an account. Leave any unused cells blank.) Abbey Holdings Ltd Consolidation Worksheet Morton Elimination Abbey Holdings Ltd. Consolidated Amounts Inc Debit Credit $ 52.000 152 000 Assets Cash Accounts receivable, net Not receivable from Morton Inc Inventory Investment in Morton Inc. Property, plant and equipment net 98,000 $ 214.000 78.000 248.000 244.000 736.000 230,000 318.000 Choose from any list or enter any number in the input fields and then continue to the next question Ullation.) e udl the 244,000 Investment in Morton Inc. Property, plant, and equipment, net Other assets 736.000 64.000 318,000 52,000 Total assets $ 1,680,000 $ 804.000 118,000 $ 82,000 112,000 Liabilities and Shareholders' Equity Accounts payable Notes payable Other liabilities Non-controlling interest Common shares Retained earnings Total liabilities and shareholders' equity 136.000 204,000 324.000 790.000 432,000 204,000 82.000 $ 1,680,000 $ 804,000 Choose from any list