c) Parent Company acquired 80 percent of Subsidiary Company's outstanding common stock for Tk. 296,000 on January 1, 2020, when the book value of Subsidiary's net assets was equal to Tk. 370,000. Parent uses the equity method to account for investments. Trial balance data for Parent and Subsidiary as of January 1, 2020, are as follows: Particulars Parent Subsidiary Company Company Tk. 25,000 37,000 87,000 Assets Cash Accounts Receivable Inventory Investment in Subsidiary Stock Land Buildings & Equipment Accumulated Depreciation Tk. 109,000 65,000 125,000 296,000 280,000 875,000 (500,000) 1.250.000 125,000 250,000 (24,000) 500.000 Total Assets Liabilities & Stockholders' Equity Accounts Payable Bonds Payable Common Stock Retained Earnings Total Liabilities & Equity 95,000 250,000 625,000 280,000 1.250.000 30,000 100,000 250,000 120,000 500.000 Instructions: i. Prepare the journal entry on Parent's books for the acquisition of Subsidiary Co. on January 1, 2020. [02]. ii. Prepare a consolidation worksheet on the acquisition date, January 1, 2020, in good form. [02] iii. Prepare a consolidated balance sheet on the acquisition date, January 1, 2020, in good form. [02]