Pie Corporation acquired 75 percent of Slice Companys ownership on January 1, 20X8, for $96,000. At that date, the fair value of the noncontrolling interest was $32,000. The book value of Slices net assets at acquisition was $94,000. The book values and fair values of Slices assets and liabilities were equal, except for Slices buildings and equipment, which were worth $18,800 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 10-year 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 $2,700. 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		$	53,500								$	31,000
Accounts Receivable			88,000									22,000
Inventory			108,000									35,000
Land			31,000									25,000
Buildings & Equipment			365,000									164,000
Investment in Slice Company			103,065
Cost of Goods Sold			121,000									106,000
Wage Expense			39,000									26,000
Depreciation Expense			21,000									9,000
Interest Expense			8,000									3,000
Other Expenses			9,500									4,000
Dividends Declared			34,000									16,200
Accumulated Depreciation						$	130,000								$	36,000
Accounts Payable							45,000									13,000
Wages Payable							14,000									9,000
Notes Payable							224,850									101,200
Common Stock							192,000									66,000
Retained Earnings							94,000									28,000
Sales							262,000									188,000
Income from Slice Company							19,215
		$	981,065			$	981,065				$	441,200			$	441,200

Required: a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Record the basic consolidation entry.

Record the amortized excess value reclassification entry.

Record the excess value (differential) reclassification entry.

Record the optional accumulated depreciation consolidation entry.

b.Prepare a three-part consolidation worksheet for 20X8. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)