• Peanut Company acquired 100 percent of Snoopy Company’s outstanding common stock for $314,000 on January 1, 20X8, when the book value of Snoopy’s net assets was equal to $314,000. Accumulated depreciation on this date was $18,000. Peanut chooses to carry the investment in Snoopy at cost because the investment will be consolidated. The following trial balance summarizes the financial position and operations for Peanut and Snoopy as of December 31, 20X9: Peanut Company Snoopy Company Debit Credit Debit Credit Cash $ 241,000 $ 78,000 Accounts Receivable 208,000 83,000 Inventory 195,000 115,000 Investment in Snoopy Company 314,000 0 Land 211,000 105,000 Buildings & Equipment 714,000 202,000 Cost of Goods Sold 271,000 135,000 Depreciation Expense 66,000 18,000 Selling & Administrative Expense 231,000 71,000 Dividends Declared 240,000 38,000 Accumulated Depreciation $ 504,000 $ 54,000 Accounts Payable 73,000 16,000 Bonds Payable 144,000 75,000 Common Stock 497,000 191,000 Retained Earnings 598,000 212,000 Sales 837,000 297,000 Dividend Income 38,000 0 Total $ 2,691,000 $ 2,691,000 $ 845,000 $ 845,000 Required: a. Prepare any journal entry(ies) related to the investment in Snoopy Company during 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) b. Prepare a consolidation worksheet for 20X9. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) JOURNAL ENTRY AND CONSOLIDATION ENTRIES ARE WHERE I NEED HELP PLEASE