Parent Inc. paid $600,000 for all the common shares of Subsidiary Inc., and Parent Inc. owes Subsidiary Inc. $68,000 on a note payable. Assume the fair value of Subsidiary Inc.'s net assets is equal to book value. Complete the following consolidation worksheet: E (Click on the icon to view the consolidated worksheet.) Consolidated worksheet Complete the following worksheet: (Leave unused cells blank. Do not enter a zero.) Parent Subsidiary Eliminations Consolidated Parent Subsidiary Eliminations Consolidated Inc. Inc. Debit Credit Amounts Inc. Inc. Debit Credit Amounts Assets Assets Cash 34,000 34,000 34,000 34,000 Notes receivable from Parent Inc. 68,000 Cash Notes receivable from Parent Inc. Investment in Subsidiary Inc. 68.000 Investment in Subsidiary Inc. 600,000 Goodwill 600,000 Other assets 433,000 400,000 Goodwill 1,067,000 502,000 Other assets 433,000 400,000 Total assets Liabilities and Shareholders' Equity Total assets 1,067,000 502,000 63,000 42,000 Accounts payable Notes payable 20,000 110,000 42,000 Common shares 246,000 803,000 181,000 Liabilities and Shareholders' Equity Accounts payable 63,000 Notes payable 20,000 Common shares 803,000 Retained earnings 181,000 1,067,000 Total liabilities and sh. equity Retained earnings 104,000 110,000 246,000 104,000 Total liabilities and sh. equity 1,067,000 502,000 502,000 Enter any number in the edit fields and then click Check Answer. All parts showing Print Done heck Answer Parent Inc. paid $600,000 for all the common shares of Subsidiary Inc., and Parent Inc. owes Subsidiary Inc. $68,000 on a note payable. Assume the fair value of Subsidiary Inc.'s net assets is equal to book value. Complete the following consolidation worksheet: E (Click on the icon to view the consolidated worksheet.) Consolidated worksheet Complete the following worksheet: (Leave unused cells blank. Do not enter a zero.) Parent Subsidiary Eliminations Consolidated Parent Subsidiary Eliminations Consolidated Inc. Inc. Debit Credit Amounts Inc. Inc. Debit Credit Amounts Assets Assets Cash 34,000 34,000 34,000 34,000 Notes receivable from Parent Inc. 68,000 Cash Notes receivable from Parent Inc. Investment in Subsidiary Inc. 68.000 Investment in Subsidiary Inc. 600,000 Goodwill 600,000 Other assets 433,000 400,000 Goodwill 1,067,000 502,000 Other assets 433,000 400,000 Total assets Liabilities and Shareholders' Equity Total assets 1,067,000 502,000 63,000 42,000 Accounts payable Notes payable 20,000 110,000 42,000 Common shares 246,000 803,000 181,000 Liabilities and Shareholders' Equity Accounts payable 63,000 Notes payable 20,000 Common shares 803,000 Retained earnings 181,000 1,067,000 Total liabilities and sh. equity Retained earnings 104,000 110,000 246,000 104,000 Total liabilities and sh. equity 1,067,000 502,000 502,000 Enter any number in the edit fields and then click Check Answer. All parts showing Print Done heck