How to solve

Pea Corporation acquired $80$ percent of Split Brewing Company's stock on January $1,201,$ at underlying book value. At that date, the fair value of the noncontrolling interest was equal to $20$ percent of Split's book value. On January $1,20$X$1,$ Split issued $$310,000$ par value, $8$ percent, $10-$year bonds to Malt Company. Pea subsequently purchased $$110,000$ of the bonds from Malt for $$122,000$ on January $1,20$X$3.$ Interest is paid semiannually on January $1$ and July $1.$ Assume Pea Corporation uses the fully adjusted equity method.

Summarized balance sheets for Pea and Split as of December $31,204,$ follow:

$\backslash$table$[[,$SPLIT BREWING COMPANY$],[$Balance Sheet,$],[$December $31,20$X$4,]]$

At December $31,204,$ Split holds $$42,000$ of inventory purchased from Pea, and Pea holds $$26,000$ of inventory purchased from Split. Split and Pea sell at cost plus markups of $30$ percent and $40$ percent, respectively. Assume total sales from Pea to Split were $$133,000$ and from Split to Pea were $$130,000.$

Required:

a$.$ Prepare all consolidation entries needed on December $31,204,$ to complete a consolidated balance sheet worksheet. Assume Split earned $$91,000$ and paid $$14,000$ in dividends during the year.

b$.$ Prepare a consolidated balance sheet worksheet.

c$.$ Prepare a consolidated balance sheet in good form.

Complete this question by entering your answers in the tabs below.

Required A

Required C

Prepare all consolidation entries needed on December $31,204,$ to complete a consolidated balance sheet worksheet. Assume Split earned $$91,000$ and paid $$14,000$ in dividends during the year.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.