Pie Corporation acquired 75 percent of Slice Compa ny's ownership on January 1, 20X8, for $93,000. At that date, the fair value of the noncontrolling interest was $31,000. The book value of Slice's net assets at acquisition was $89,000. The book values and fair values of Slice's assets and liabilities were equal, except for Slice's buildings and equipment, which were worth $17,800 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 10year basis. Although goodwill is not amortized, the management of Pie concluded at December 31, 20X8, that goodwill from its purchase of Slice shares had been impaired and the correct carrying amount was $3,000. Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders. Trial balance data for Pie and Slice on December 31, 20X8, are as follows: Pie Corporation Slice Company Item Debit Credit Debit Credit Cash 3 55,500 $ 27,000 Accounts Receivable 77 , 000 18 , 00 0 Inventory 97,000 31,000 Land 33,000 21,000 Buildings 5. Equipment 365,000 154,000 Investment in Slice Company 97 , 215 Cost of Goods Sold 121,000 106,000 Wage Expense 36,000 20,000 Depreciation Expense 21,000 9,000 Interest Expense 8, 000 3 , 000 other Expenses 9 , 500 4 , 00 0 Dividends Declared 32 , 000 16 , 40 0 Accumulated Depreciation $ 14 2 , 0 00 $ 36 , 000 Accounts Payable 2 6 , 000 7 , 000 Wages Payable 8, 000 3 , 000 Notes Payable 188,700 94,400 Common Stock 200,000 66,000 Retained Earnings 102,000 23,000 Sales 269,000 180,000 Income from Slice Company 16,515 $952,215 $952,215 $409,400 $409,400 Consolidation Worksheet Entries A Record the basic consolidation entry. Note: Enter debits before credits. Entry Accounts Debit Credit 1 Common stock 66,000 Retained earnings 23,000 Income from Slice Company NCI in NI of Slice Company Dividends declared 16,400 Investment in Slice Company NCI in NA of Slice Company Record entry Clear entry view consolidation entriesConsolidation Worksheet Entries B D Record the amortized excess value reclassification entry. Note: Enter debits before credits. Entry Accounts Debit Credit 2 Depreciation expense Investment in Slice Company NCI in NI of Slice Company Record entry Clear entry view consolidation entriesConsolidation Worksheet Entries B C Record the excess value (differential) reclassification entry. Note: Enter debits before credits. Entry Accounts Debit Credit 3 Buildings and equipment 17,800 Goodwill 3,000 Accumulated depreciation Investment in Slice Company NCI in NA of Slice Company Record entry Clear entry view consolidation entriesConsolidation Worksheet Entries <090 527,100