Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $216,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition orporation Corporation Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $ 68,000 86,eee 120,000 223,000 216,000 $713,000 $ 19,00 43,000 72,000 164.0.80 $ 90, 131,000 81,000 411.000 $713,200 $ 18,000 64,00 56,000 160,00 $298.00 At the date of the business combination, the book values of Faith's net assets and liabilities approximated fair value Assume Faith Corporation's accumulated depreciation on buildings and equipment on the acquisition date was $24,000. Required: a. Give the consolidation entry or entries needed to prepare a consolidated balance sheet immediately following the business combination (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)