Park Corporation acquired 80% of Soor Corporation on January 1, 2019.for $240.000 cash when Son's stockholders' equity consisted of $100,000 of Common Stock and $30.000 of Retained Extings. The ofference between the price paid by Park and the underlying equity acquired in Soor was allocated solely to a patent amortized over 10 years and the amortization expense was included in the subsidiary expenses Park sold merchandise to Soor during the year in the amount of $30,000 $10.000 worth of inventory is still on hand at the end of the year with an unrealized profit of $4,000. The separate company statements for Pak and Soor appear in the first two columns of the partially completed consolidated workpaper. Required: Complete the parent's financial statements and prepare the consolidated workspaper for Park and Soar for the year 2019. Show all the calculations. Park Corporation and Subsidiary Park Soor Eliminations Corp. Income Statement Consolidated Statements Corp. Dr. C. Sales 200,000 150,000 Income from Soor Cost of Sales 192,000) (47,000) Other Expenses (23,000) (57,000 Net Income 46.000 Retained Earnings Statement 110,000 47,000 Retained Earnings 1/1 46,000 Add: Net Income Park Corporation acquired 80% of Soor Corporation on January 1, 2019.for $240.000 cash when Son's stockholders' equity consisted of $100,000 of Common Stock and $30.000 of Retained Extings. The ofference between the price paid by Park and the underlying equity acquired in Soor was allocated solely to a patent amortized over 10 years and the amortization expense was included in the subsidiary expenses Park sold merchandise to Soor during the year in the amount of $30,000 $10.000 worth of inventory is still on hand at the end of the year with an unrealized profit of $4,000. The separate company statements for Pak and Soor appear in the first two columns of the partially completed consolidated workpaper. Required: Complete the parent's financial statements and prepare the consolidated workspaper for Park and Soar for the year 2019. Show all the calculations. Park Corporation and Subsidiary Park Soor Eliminations Corp. Income Statement Consolidated Statements Corp. Dr. C. Sales 200,000 150,000 Income from Soor Cost of Sales 192,000) (47,000) Other Expenses (23,000) (57,000 Net Income 46.000 Retained Earnings Statement 110,000 47,000 Retained Earnings 1/1 46,000 Add: Net Income