Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20X8, 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 $30,000 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 $3,400. 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: Slice Company Debit Credit $ 26,000 17,000 30,000 20,000 159,000 Item Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in slice Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from slice Company Pie Corporation Debit Credit $ 49,500 71,000 91,000 34,000 360,000 99,675 124,000 37,000 22,000 9,000 10,500 35,000 $132,000 33,000 16,000 180,300 199,000 101,000 269,000 12,375 $942, 675 $942,675 109,000 22,000 10,000 4,000 5,000 15,600 $ 40,000 15,000 11,000 73,600 66,000 29,000 183,000 $417,600 $417,600 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.) Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20X8, 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 $30,000 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 $3,400. 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: Slice Company Debit Credit $ 26,000 17,000 30,000 20,000 159,000 Item Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in slice Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from slice Company Pie Corporation Debit Credit $ 49,500 71,000 91,000 34,000 360,000 99,675 124,000 37,000 22,000 9,000 10,500 35,000 $132,000 33,000 16,000 180,300 199,000 101,000 269,000 12,375 $942, 675 $942,675 109,000 22,000 10,000 4,000 5,000 15,600 $ 40,000 15,000 11,000 73,600 66,000 29,000 183,000 $417,600 $417,600 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.)