Pacer Corporation acquired 80% of Slicker Company’s voting stock for $36,250 on January 1, 2019. The reported equity of Slicker on January 1, 2019 was $3,000 in common stock and $9,000 in retained earnings. The fair value of the noncontrolling interest was $7,750. Slicker’s assets and liabilities were reported at fair value at the date of acquisition, except for these items:

	Book Value	Fair Value
Land	$2,000	$8,000
Buildings	8,000	3,000
Identifiable intangibles	0	10,000

The buildings had a remaining useful life of 10 years, and the identifiable intangibles are amortized over 5 years as of the date of acquisition, both straight-line. Goodwill is impaired by $2,000 in 2019 and is unimpaired in 2020. The land, buildings, and identifiable intangibles are still held by Slicker.

It is now December 31, 2020 (two years since the acquisition took place). The trial balances of Pacer and Slicker are in the consolidation working paper below. Information on intercompany transactions is as follows:

1. On January 2, 2019, Pacer sold Slicker equipment for a price of $800. The equipment had a book value of $300 at the time of sale, and a remaining life of 5 years, straight-line.

2. Slicker sells merchandise to Pacer on a continuing basis, at a markup of 20% on cost. Pacer’s 2020 beginning inventory contains $90 in goods purchased from Slicker. Pacer’s 2020 ending inventory contains $120 in goods purchased from Slicker. Total intercompany sales for 2020 were $3,000.

Required

a. Complete the working paper below to consolidate the December 31, 2020 trial balances of Pacer and Slicker. Clearly label your eliminating entries (E), (R), (C), (O), (N) and (I). (Please use parentheses and comma, eg. (E)123,456 rather than E123,456 or (E)123456 or e123,456)

No blanks between (E) and 123,456

Goodwill attributed to parent=$ (one number)

Goodwill attributed to NCI=$ (one number)

On 12/31/2020, Equity in NI=$ (one number)

On 12/31/2020, NCI in NI=$ (one number)

	Pacer Dr (Cr)	Slicker Dr (Cr)	Dr	Cr	Consol Dr (Cr)
Current assets	$ 16,000	$ 6,000
Land	8,000	7,000
Buildings & equipment (net)	145,200	25,000
Investment in Slicker	35,834	--
Identifiable intangibles	--	--
Goodwill	--	--
Current liabilities	(9,000)	(5,000)
Long-term debt	(158,338)	(16,000)
Capital stock	(10,000)	(3,000)
Retained earnings, beg.	(20,000)	(11,000)
AOCI, beg.	(2,000)	--
NCI in Slicker	--	--
Dividends	800	--
Revenues	(155,000)	(40,000)
Equity in NI of Slicker	(1,296)	--
Cost of goods sold	118,000	28,000
Operating expenses	32,000	9,000
OCI	(200)	--
NCI in NI of Slicker	--	--
Total	$ 0	$ 0