Consolidated Balance Sheet Workpaper LO8 LO9 On January 1, 2014, Perry Company purchased 8,000 shares of Soho Company's common stock for $120,000. Immediately after the stock acquisition, the statements of financial position of Perry and Soho appeared as follows: Soho Assets Perry 19,000 Cash 39,000 Accounts receivable 53,000 31,000 25,000 Inventory Investment in Soho Company 42,000 120,000 160,000 Plant assets 110,500 Accumulated depreciation-plant assets (52,000) (19,500) $166,000 Total $362,000 Liabilities and Owners' Equity $18,500 26,000 Current liabilities Mortgage notes payable Common stock, $10 par value Other contributed capital Retained earnings 40,000 120,000 100,000 135,000 16,500 48,500 23,500 $166,000 Total $362,000 Required: A. Calculate the percentage of Soho acquired by Perry Company. Prepare a schedule to compute the difference between book value of equity and the value implied by the purchase price. Any difference between the book value of equity and the value implied by the purchase price relates to subsidiary plant assets B. Prepare a consolidated balance sheet workpaper as of January 1, 2014 C. Suppose instead that Perry acquired the 8,000 shares for $20 per share including a $5 per share control premium. Prepare a computation and allocation of difference schedule