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:

ItemPlayoff CorporationSeries CompanyBook ValueFair ValueCash$ 19,000$ 9,000$ 9,000Accounts Receivable36,00016,00016,000Inventory97,00026,00031,000Buildings and Equipment (net)132,00066,00086,000Investment in Series Company144,000Total$ 428,000$ 117,000$ 142,000Accounts Payable$ 21,000$ 4,000$ 4,000Bonds Payable142,00017,000$ 17,000Common Stock53,00014,000Retained Earnings212,00082,000Total$ 428,000$ 117,000$ 21,000

Required:

a. Prepare the consolidating entries required to prepare a consolidated balance sheet immediately after the acquisition of Series Company shares.es.