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Pencil Company acquired 70 percent of Stylus Corporation's stock on January 2,203, for $74,900 cash. Summarized balance sheet data for the companies on December 31,

image text in transcribed Pencil Company acquired 70 percent of Stylus Corporation's stock on January 2,203, for $74,900 cash. Summarized balance sheet data for the companies on December 31, 20X2, follow: Required: Prepare a consolidated balance sheet immediately following the acquisition

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