Padre holds 100 percent of the outstanding shares of Sonora. On January 1, 2022, Padre transferred equipment to Sonora for $95,000. The equipment had cost $130,000 originally but had a $50,000 book value and five-year remaining life at the date of transfer. Depreciation expense is computed according to the straight-line method with no salvage value Consolidated financial statements for 2024 currently are being prepared. Required: What worksheet entries are needed in connection with the consolidation of this asset? Assume that the parent applies the partial equity method Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries Note: Enter debits before credits. Consolidation Worksheet Entries 2 Note: Enter debits before credits