Peanut Company acquired 80 percent of Snoopy Companys outstanding common stock for $296,000 on January 1,208, when the book value of Snoopy's net assets was equal to $370,000. Peanut uses the equity method to account for investments. Trial balance data for Peanut and Snoopy as of January 1,20x8, follow. Required: a. Prepate the journal entry on Peanut's books for the acquistion of Snoopy on January 1,20X8 b. Prepare a consolidation worksheet on the acquisition date, January 1.20X8 c. Prepare a consolidated balance sheet on the acquisition date. January 1,208