Check Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at underlying book value on August 30, 20X6. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Spark Filter Summarized trial balance data for the two companies as of December 31, 20x8, are as follows Plug Products Spark Filter Company Debit Cash and Accounts Receivable Credit Debit Credit $ 153,000 Inventory 5.93,000 220.000 126.000 Buildings & Equipment (net) 275,000 Investment in Spark Filter Company 130,000 265,098 Cost of Goods Sold 169,000 134,000 Depreciation Expense 30.000 20,000 Current Liabilities $ 150,068 5.56,468 Common Stock 197,000 85,000 Retained Earnings 454,000 202,000 Sales 259,532 209.533 Income from Spark Filter Company 49,498 $1,110,098 $1,110,098 5553,000 Total $553,000 On January 1, 20X8, Plug's inventory contained filters purchased for $67,000 from Spark Fitet which had produced the liters for $47000. In 20X8. Spark Filter spent $107.000 to produce additional filters, which it sold to Plug for $152,532 By December 31 20x8, Plug had sold all filters that had been on hand January 1, 20x8, but continued to hold in inventory $45760 of the 20x8 purchase from Spark Filter Required: Required: a. Prepare all consolidation entries needed to complete a consolidation worksheet for 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list transaction list NO Entry Accounts A Debit 1 Credit Common stock Retained earnings Income from Spark Filter Company NCI in NI of Spark Filter Investment in Spark Filter Company NCI in NA of Spark Filter B 2 Investment in Spark Filter Company NCI IN NA of Spark Filter Cost of goods sold 3 Sales Cost of goods sold Help b. Compute consolidated net income and income assigned to the controlling interest in the 20x8 consolidated income statement Consolidated net income Income assigned to the controlling interest e Compute the balance assigned to the noncontrolling interest in the consolidated balance sheet as of December 31, 20X8. Noocontrolling interest