Peanut Company acquired 100 percent of Snoopy Companys outstanding common stock for $303,000 on January 1, 20X8, when the book value of Snoopys net assets was equal to $303,000. Accumulated depreciation on this date was $20,000. 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	$	234,000						$	84,000
Accounts Receivable		197,000							81,000
Inventory		188,000							117,000
Investment in Snoopy Company		303,000							0
Land		210,000							109,000
Buildings & Equipment		705,000							208,000
Cost of Goods Sold		282,000							145,000
Depreciation Expense		59,000							20,000
Selling & Administrative Expense		239,000							66,000
Dividends Declared		243,000							40,000
Accumulated Depreciation				$	513,000						$	60,000
Accounts Payable					56,000							21,000
Bonds Payable					134,000							68,000
Common Stock					483,000							185,000
Retained Earnings					587,000							249,000
Sales					847,000							287,000
Dividend Income					40,000							0
Total	$	2,660,000		$	2,660,000			$	870,000		$	870,000

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.)