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: Cash Item Accounts Receivable Inventory Buildings & Equipment (net) Investment in Series Stock Total Bonds Payable Accounts Payable Common Stock Retained Earnings Total Playoff Corp. Series Company Book Value Fair Value $ 24,000 $ 24,000 18,000 18,000 21,000 26,000 $ 34,000 38,000 89,000 137,000 145,000 $443,000 $ 22,000 138,000 49,000 62,000 $125,000 $ 5,000 23,000 17,000 82,000 $150,000 $ 5,000 23,000 234,000 80,000 $443,000 $125,000 $ 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.)