Hello,

I am having ploblems calculating the cosolidation

3-1 Assignment: Less-Than-Wholly-Owned Acquired at 0 Saved Help Save & Exit Submit Check my work Pizza Corporation acquired 80 percent ownership of Slice Products Company on January 1, 20x1, for $157,000. On that date, the fair value of the noncontrolling interest was $39,250, and Slice reported retained earnings of $47,000 and had $100,000 of common stock outstanding. Pizza has used the equity method in accounting for its investment in Slice. 25 Trial balance data for the two companies on December 31, 20x5, are as follows: pmnw Pizza Slice Corporation Products Company_ Item Debit Credit Debit credit 63\" Cash 5. Receivables $ 90 , 000 s 84, 000 ' Inventory 261,000 97,000 an Land 88,000 88,000 Buildings 5 Equipment 515,000 166,000 Rdemnces Investment in Slice Products Company 190,260 Cost of Goods Sold 119,000 47,000 Depreciation Expense 21,000 11,000 Inventory Losses 11,000 5,000 Dividends Declared 33,000 22,800 Accumulated Depreciation $ 199,000 5 77,000 Accounts Payable 42,000 17,000 Notes Payable 239,400 127,800 Common Stock 297,000 100,000 Retained Earnings 311,000 90,000 Sales 207,000 109,000 Income from Slice Products Company 32,860 $1,328,260 $1,328,260 $520,500 $520,800 Additional Information 1. On the date of combination, the fair value of Slice's depreciable assets was $49,250 more than book value. The accumulated depreciation on these assets was $10,000 on the acquisition date. The differential assigned to depreciable assets should be written off over the following 10-year period. 2. There was $14,000 of intercorporate receivables and payables at the end of 20x5. 3-1 Assignment: Less-Than-Wholly-Owned Acquired at ... i Saved Help Save & Exit Submit Check my work 2. There was $14,000 of intercorporate receivables and payables at the end of 20X5. Required: a. Prepare all journal entries that Pizza recorded during 20X5 related to its investment in Slice. (If no entry is required for a 25 transaction/event, select "No journal entry required" in the first account field.) points View transaction list View journal entry worksheet X eBook No Event General Journal Debit Credit Print A 1 Investment in Slice Products Company References Income from Slice Products Company B 2 Cash Investment in Slice Products Company C 3 Income from Slice Products Company Investment in Slice Products CompanyCheck my work b. Prepare all consolidation entries needed to prepare consolidated statements for 20X5. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 25 view transaction list transaction list X points No Event Accounts Debit Credit eBook A 1 Common stock Retained earnings Print Income from Slice Products Company References NCI in NI of Slice Products Company Dividends declared Investment in Slice Products Company NCI in NA of Slice Products Company B 2 Depreciation expense Income from Slice Products Company NCI in NI of Slice Products Company C 3 Buildings and equipment Accumulated depreciation Investment in Slice Products Company NCI in NA of Slice Products Company D 4 Accounts payable Cash and receivables25 points eBook Print References Check my work c. Prepare a threepart worksheet as of December 31, 20x5. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) Income Statement Less: COGS Less: Depreciation expense Less: Inventory losses Income from Slice Products Company Consolidated net income $ 0 NCI in net income Controlling Interest in Net Income $ 0 $ 0 $ 0 $ 0 $ 0 Statement of Retained Earnings Beginning balance Netinoome Less: Dividends declared Ending Balance $ 0 $ 0 $ 0 $ 0 $ 0 Balance Sheet Cash and receivables Inventorv