On December 31, 20X8, Paragraph Corporation acquired 80 percent of Sentence Companys common stock for $136,000. At the acquisition date, the book values and fair values of all of Sentences assets and liabilities were equal. Paragraph uses the equity method in accounting for its investment. Balance sheet information provided by the companies at December 31, 20X8, immediately following the acquisition is as follows:

	Paragraph Corporation				Sentence Company
Cash		$	74,000			$	20,000
Accounts Receivable			120,000				70,000
Inventory			180,000				90,000
Fixed Assets (net)			350,000				240,000
Investment in Sentence Co.			136,000
Total Debits		$	860,000			$	420,000
Accounts Payable		$	65,000			$	30,000
Notes Payable			350,000				220,000
Common Stock			150,000				90,000
Retained Earnings			295,000				80,000
Total Credits		$	860,000			$	420,000

Required: Prepare a consolidated balance sheet for Paragraph at December 31, 20X8.

PARAGRAPH CORPORATION AND SUBSIDIARY Consolidated Balance Sheet December 31, 20X8 Assets $ 0 Total Assets Liabilities and Stockholders' Equity Total Liabilities and Stockholders' Equity S 0