Pie Corporation acquired $75$ percent of Slice Company$$s ownership on January $1,20$X$8,$ for $$99,000.$ At that date, the fair value of the noncontrolling interest was $$33,000.$ The book value of Slice$$s net assets at acquisition was $$95,000.$ The book values and fair values of Slice$$s assets and liabilities were equal, except for Slice$$s buildings and equipment, which were worth $$19,000$ more than book value. Accumulated depreciation on the buildings and equipment was $$27,000$ on the acquisition date. Buildings and equipment are depreciated on a $10-$year basis.

Although goodwill is not amortized, the management of Pie concluded at December $31,20$X$8,$ that goodwill from its purchase of Slice shares had been impaired and the correct carrying amount was $$2,800.$ Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders.

Trial balance data for Pie and Slice on December $31,20$X$8,$ are as follows:

Item Pie Corporation Slice Company

Debit Credit Debit Credit

Cash $ $54,500$ $ $24,000$

Accounts Receivable $76,00015,000$

Inventory $96,00028,000$

Land $37,00018,000$

Buildings and Equipment $370,000150,000$

Investment in Slice Company $103,425$

Cost of Goods Sold $119,000104,000$

Wage Expense $37,00022,000$

Depreciation Expense $24,0009,000$

Interest Expense $11,0003,000$

Other Expenses $12,5004,000$

Dividends Declared $33,00017,000$

Accumulated Depreciation $ $135,000$ $ $36,000$

Accounts Payable $40,00014,000$

Wages Payable $15,00010,000$

Notes Payable $233,25057,000$

Common Stock $185,00054,000$

Retained Earnings $87,00041,000$

Sales $261,000182,000$

Income from Slice Company $17,175$

$ $973,425$ $ $973,425$ $ $394,000$ $ $394,000$

Required:

Record all consolidation entries needed to prepare a three$-$part consolidation worksheet as of December $31,20$X$8.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.