Pencil Company acquired 80 percent of Stylus Corporation's stock on January 2, 20x3, for $110.400 cash Summarized balance sheet data for the companies on December 31, 20X2, follow Cash Other Assets Total Debits Current abilities Common Stock Retained Earnings Total Credits Pencil Company Book Value Fair Value $202,000 $282,000 408,000 408,000 $610,000 $ 85,000 85,000 296,000 229,000 $610,000 Stylus Corporation Book Value Fair Value $ 68,000 $ 68,000 135,000 135,000 $203,000 $ 65,000 65,000 68,000 70,000 $203,000 Required: Prepare a consolidated balance sheet immediately following the acquisition PENCIL COMPANY AND SUBSIDIARY Consolidated Balance Sheet January 2, 20X3 Assets Cash Other assets $ Total Assets Liabilities and Stockholders' Equity Current liabilities Common stock Retained earnings Noncontrolling interest in net assets of Stylus