On June 10, 20x8, Playoff Corporation acquired 100 percent of Series Company's common stock. Summarized balance sheet data for the two companies immediately after the stock acquisition are as follows: Playoff Corp. Series Company Book Value Fair value $ 5,000 $ 5,000 10,000 10,000 20,000 25,000 50,000 70,000 Item Cash Accounts Receivable Inventory Buildings & Equipment (net) Investment in Series Stock Total Accounts Payable Bonds Payable Common Stock Retained Earnings Total $ 15,000 30,000 80,000 120,000 100,000 $ 345,000 $ 25,000 150,000 55,000 115,000 $ 345,000 $ 85,000 $ 3,000 25,000 20,000 37,000 $ 85,000 $ 110,000 $ 3,000 25,000 $ 28,000 Required: a. Prepare the consolidating entries required to prepare a consolidated balance sheet immediately after the acquisition of Series Company shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries Record the basic consolidation entry. Consolidation Worksheet Entries A B Record the excess value (differential) reclassification entry