Patterson Company purchases 80% of Kensington Company's common stock for $480,000 cash when Kensington Company has $240,000 of common stock and $360,000 of retained earnings. a. If a consolidated balance sheet is prepared immediately after the acquisition, what amounts are eliminated when preparing that statement? Eliminated? $480,000 Investment in Kensington $240,000 Common stock $360,000 Retained earnings b. What amount of noncontrolling interest appears in the consolidated balance sheet? $ 0