only do part B #8

Pretzel Corporation acquired 100 percent of Stick Company's outstanding shares on January 1, 20X7. Balance sheet data for the two companles Immedlately after the purchase follow: As Indicated In the parent company balance sheet, Pretzel purchased $62,000 of Stick's bonds from the subsidlary at par value Immedlately after it acquired the stock. An analysis of Intercompany recelvables and payables also Indicates that the subsidiary owes the parent $14,000. On the date of combination, the book values and fair values of Stick's assets and llabillties were the same. Required: a. Prepare all consolidation entrles needed to prepare a consolidated balance sheet for January 1,207. b. Complete a consolidated balance sheet worksheet. Complete a consolidated balance sheet worksheet. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combirie all credit entries into one amount and enter this amount in the credit column of the worksheet