Following are trial balances of P and S Company as of December 31, 200X. (Prior to the payment of dividends and recording S income using the equity method of accounting). Differences between identifiable net assets of S Company on THE DATE OF THE ACQUISITION of S Company By P Company were: On January 1, 200X P Co. purchased S Co. for $345,000. Goodwill created on date of purchase was $115,000. On December 31, 200X S paid $20,000 in dividends. Show journal entries for the payment of dividends by S and P's recording of S's net income using the equity method of accounting. Prepare consolidation worksheet. Prepare consolidated financial statements for the year ending December 31, 200X