P Corporation paid $210,000 for 70% of S Corporation's $10 par common stock on December 31,2016 , when S Corporation's stockholders' equity was made up of $150,000 of Common Stock, $45,000 of Other Contributed Capital and $30,000 of Retained Earnings. S's identifiable assets and liabilities reflected their fair values on December 31, 2016, except for S's inventory which was undervalued by $30,000, and their land which was undervalued by $12,500. Balance sheets for P and S immediately after the business combination are presented in the partially completed work paper below. Required: Complete the consolidated balance sheet workpaper for P Corporation and Subsidiary