balance sheet for Companies L and Mon November 15, 20x8 immediately after Company 1. The balance sheet for Companies acquired control of Company M, are shown as follows: Company Cash 410,000 1,000,000 250,000 Receivables Inventories Investment in Company M stock, 7.500 shares Plant and Equipment (net) 120,000 Payables 340,000 Capital Stock 550,000 Additional paid in capital Retained Earnings 390,000 600,000 Total Habilities and 2,000,000 stockholders' equity 340,000 Total Assets 2,000,000 Company M 145,000 Cash Receivables Inventories Plant and Equipment (net) 40,000 Payables 105,000 Capital Stock, 10.000 115,000 shares 225,000 Additional paid-in Capital R/E 200,000 100,000 40,000 Total Assets 485,000 Total llabilities and stockholders' equity 485,000 Upon securing control, company L authorized that Company M's books be audited and its plant and equipment appraised. The audit disclosed that a general contingency reserve for 25.000 was carried on the books as payable. Appraisers reported a sound value of 350.000 for plant and equipment. Q: Prepared a consolidated worksheet and a consolidated balance sheet. (10 Points)