Paula Company acquires 100% of the common stock of Shannon Company for $200,000 cash to acquire the 100% interest in Shannon Company. On the acquisition date, Shannons ledger shows Common Stock $120,000 and Retained Earnings $70,000. Complete the worksheet for the following accounts: PaulaInvestment in Shannon Common Stock, ShannonCommon Stock, and ShannonRetained Earnings and for the excess of cost over book value.

						Eliminations
		Paula Company		Shannon Company		Dr.		Cr.		Consolidated Data
Investment in Shannon Common Stock		$		$		$		$		$
Excess of Cost Over Book Value
Common Stock
Retained Earnings