At year$-$end, there were no intra$-$entity receivables or payables.

Required:

Prepare a worksheet to consolidate the financial statements of these two companies.

For accounts where multiple consolidation 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. Input all amounts as positive values.

PADRE INCORPORATED, AND SIERRA CORPORATION

Consolidated Worksheet

For Year Ending December $31,2024$

Accounts

Padre

Consolidation Entries

Noncontrolling

Consolidated