Hello, I already did this project and received a 60, but my professor said I should have had eliminating entries at $293,000.

I appreciate your help with explaining how to get these eliminating entries to then be able to create the appropriate consolidated balance sheet.

Preparation of Consolidated Balance Sheet Greene Company purchased 60 percent of White Corporation's voting shares on June 3, 2012, at book value. At that date, the fair value of the noncontrolling interest was equal to 40 percent of the book value of White Corporation. The companies' permanent accounts on December 31, 2017, contained the following balances: Greene White Company Corporation Cash and Receivables $101,000 $20,000 Inventory 80,000 40,000 Land 150,000 90,000 Buildings & Equipment 400,000 300,000 Investment in White Corporation Stock 141,000 872,000 $ 450,000 Accumulated Depreciation $135,000 $85,000 Accounts Payable 90,000 25,000 Notes Payable 200,000 90,000 Common Stock 100,000 200,000 Retained Earnings 347,000 50,000 $872,000 $450,000 On January 1, 2013, Greene paid $100,000 for equipment with a 10-year expected total economic life. The equipment was depreciated on a straight-line basis with no residual value. White purchased the equipment from Greene on December 31, 2015, for $91,000. Assume White did not change the remaining estimated useful life of the equipment. White sold land it had purchased for $30,000 on February 23, 2015, to Greene for $20,000 on October 14, 2016. Assume Greene uses the fully adjusted equity method. Required 1. Prepare a consolidated balance sheet worksheet in good form as of December 31, 2017. 2. Prepare a consolidated balance sheet as of December 31, 2017.Consolidation Entries Greene Company White Corporation Dr Cr Consolidated Cash and Receivables $101,000 $20,000 Inventory 80,000 40,000 Land 150,000 90,000 Buildings & Equipment 400,000 300,000 Accumulated Depreciation (135,000) (85,000) Investment in White Corporation Stock 141,000 Total Assets $ 737,000 $ 365,000 $0 $0 Accounts Payable 90,000 25,000 Notes Payable 200,000 90,000 Common Stock 100,000 200,000 Retained Earnings 347,000 50,000 NCI in NA of White Corporation Total Liabilities & Equity $737,000 $365,000 SO $0