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 $100,000. The book values and fair values of Slices assets and liabilities were equal, except for Slices 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:

A. Give all consolidation entries needed to prepare a three part consolidation worksheet as of december 31, 20X8

SHOW CALCULATIONS

\begin{tabular}{|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Item } & \multicolumn{2}{|c|}{ Pie Corporation } & \multicolumn{2}{|c|}{ Slice Company } \\ \hline & Debit & Credit & Debit & Credit \\ \hline Cash & $47,500 & & $21,000 & \\ \hline Accounts Receivable & 70,000 & & 12,000 & \\ \hline Inventory & 90,000 & & 25,000 & \\ \hline Land & 30,000 & & 15,000 & \\ \hline Buildings \& Equipment & 350,000 & & 150,000 & \\ \hline Investment in slice Company & 96,375 & & & \\ \hline Cost of Goods Sold & 125,000 & & 110,000 & \\ \hline Wage Expense & 42,000 & & 27,000 & \\ \hline Depreciation Expense & 25,000 & & 10,000 & \\ \hline Interest Expense & 12,000 & & 4,000 & \\ \hline Other Expenses & 13,500 & & 5,000 & \\ \hline Dividends Declared & 30,000 & & 16,000 & \\ \hline Accumulated Depreciation & & $145,000 & & $40,000 \\ \hline Accounts Payable & & 45,000 & & 16,000 \\ \hline Wages Payable & & 17,000 & & 9,000 \\ \hline Notes Payable & & 150,000 & & 50,000 \\ \hline Common Stock & & 200,000 & & 60,000 \\ \hline Retained Earnings & & 102,000 & & 40,000 \\ \hline Sales & & 260,000 & & 180,000 \\ \hline Income from slice Company & & 12,375 & & \\ \hline & $931,375 & $931,375 & $395,000 & $395,000 \\ \hline \end{tabular}