Pie Corporation paid $319,500 to acquire 90 percent ownership of Slice Company on April 1, 20X2. At that date, the fair value of the noncontrolling interest was $35,500. On January 1, 20X2, Slice reported these stockholders equity balances:

Common Stock	$	160,000
Additional Paid-In Capital		40,000
Retained Earnings		150,000
Total Stockholders Equity	$	350,000

Slices operating results and dividend payments for 20X2 were as follows:

	January 1 to March 31						April 1 to December 31
Sales		$	90,000					$	250,000
Total expenses			(80,000	)					(220,000	)
Net income		$	10,000					$	30,000
Dividends paid		$	5,000					$	15,000

Pie uses the equity method in recording its investment in Slice. Required: a. Prepare the journal entries that Pie recorded in 20X2 for its investment in Slice. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Prepare the worksheet consolidation entries needed at December 31, 20X2, to prepare consolidated financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

View transaction list Journal entry worksheet A > Record the purchase of Slice Company Stock. Note: Enter debits before credits. General Journal Debit Credit Event 1 Record entry Clear entry View general journal b. Prepare the worksheet consolidation entries needed at December 31, 20X2, to prepare consolidated financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries Record the sales and expense consolidation entry. Note: Enter debits before credits. Accounts Debit Credit Event 1 Record entry Clear entry view consolidation entries