Paper Company acquired 80 percent of Scissor Companys outstanding common stock for $296,000 on January 1, 20X8, when the book value of Scissors net assets was equal to $370,000. Paper uses the equity method to account for investments. Trial balance data for Paper and Scissor as of December 31, 20X8, are as follows:

	Paper Company									Scissor Company
	Debit				Credit					Debit				Credit
Cash		$	191,000								$	46,000
Accounts Receivable			140,000									60,000
Inventory			190,000									120,000
Investment in Scissor Company			350,400									0
Land			250,000									125,000
Buildings and Equipment			875,000									250,000
Cost of Goods Sold			250,000									155,000
Depreciation Expense			65,000									12,000
Selling & Administrative Expense			280,000									50,000
Dividends Declared			80,000									25,000
Accumulated Depreciation							565,000									36,000
Accounts Payable							77,000									27,000
Bonds Payable							250,000									100,000
Common Stock							625,000									250,000
Retained Earnings							280,000									120,000
Sales							800,000									310,000
Income from Scissor Company							74,400									0
Total		$	2,671,400			$	2,671,400				$	843,000			$	843,000

Required: a. Prepare any equity method entry(ies) related to the investment in Scissor Company during 20X8.

b. Prepare a consolidation worksheet for 20X8. Assume the company prepares the optional Accumulated Depreciation Consolidation Entry.