Pie Corporation acquired 75 percent of Slice Company's 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 Slice's net assets at acquisition was $100,000. The book values and fair values of Slice's assets and liabilities were equal, except for Slice's buildings and equipment, which were worth $20,000 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 $2,500. 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 Debit 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 Required: Credit Slice Company Debit Credit $ 47,500 $ 21,000 70,000 12,000 90,000 25,000 30,000 15,000 350,000 150,000 96,375 125,000 110,000 42,000 27,000 25,000 10,000 12,000 4,000 13,500 5,000 30,000 16,000 $145,000 45,000 $ 40,000 16,000 17,000 9,000 150,000 50,000 200,000 60,000 102,000 40,000 260,000 180,000 12,375 $931,375 $931,375 $395,000 $395,000 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.) No Entry A 1 B 2 C 3 Income from Slice Company Common stock Answer is not complete. Accounts Retained earnings NCI in NI of Slice Company Depreciation expense Income from Slice Company NCI in NI of Slice Company Buildings and equipment Goodwilll Accumulated depreciation Investment in Slice Company NCI in NA of Slice Company 100 100 00000 Debit Credit 18,000 60,000 40,000 6,000 2,000 1,500 1,875 20,000 2,000 15,375 5,125