Peanut Company acquired 90 percent of Snoopy Company's outstanding common stock for $300,600 on January 1, 20X8, when the book value of Snoopy's net assets was equal to $334,000. Peanut uses the equity method to account for investments. Trial balance data for Peanut and Snoopy as of December 31,208, follow: Required: a. Prepare any equity method entry(ies) related to the investment in Snoopy Company during 208. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the initial investment in Snoopy Co. Note: Enter debits before credits. b. Prepare a consolidation worksheet for 208. Assume the company prepares the optional Accumulated Depreciation Consolidation Entry. (Values In the flrst two columns (the "parent" and "subsldlary" balances) that are to be deducted should be Indlcated with a minus sign, while all values in the "Consolldation Entrles" columns should be entered as positlve values. For accounts where multlple adjusting entries are requlred, combine all debit entrles Into one amount and enter this amount In the deblt column of the Iumn of the worksheet.)