On June 10, 20X8, Private Corporation acquired 70 percent of Secret Company's common stock. The fair value of the noncontrolling interest was $24,600 on that date. Summarized balance sheet data for the two companies immediately after the stock purchase are as follows: Private Corporation Secret Company Item Book Value Book Value Fair Value Cash % 33,800 % 10,000 % 10,000 Accounts Receivable 32,000 15,9000 15,9000 Inventory 84,000 25,9000 30,9000 Buildings and Eguipment (net) 132,000 58,080 78,000 Investment in Secret Company 57,400 Total $ 339,200 % 108,000 % 133,000 Accounts Payable % 20,000 % 3,000 % 3,000 Bonds Payable 209,200 43,000 43,000 Common Stock 45,809 20,9000 Retained Earnings 65,009 37,900 Total % 339,200 % 108,000 % 51,000 Required: a. Record the consolidation entries required to prepare a consolidated balance sheet immediately after the purchase of Secret Company shares