Pillow Corporation acquired $80$ ?percent ownership of Sheet Company on January $1,207,$ ?for $$173,000.$ ?At that date, the fair value of the noncontrolling interest was $$43,250.$ ?The trial balances for the two companies on December $31,207,$ ?included the following amounts:

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$\backslash$table$[[$Item$,$Pillow Corporation,Sheet Company$],[$Debit$,$Credit,Debit,Credit$],[$Cash$,$$$38,000,,$$$25,000,],[$Accounts Receivable,$50,000,,55,000,],[$Inventory$,240,000,,100,000,],[$Land$,80,000,,20,000,],[$Buildings and Equipment,$500,000,,150,000,],[$Investment in Sheet Company,$202,000,,,],[$Cost of Goods Sold,$500,000,,250,000,],[$Depreciation Expense,$25,000,,15,000,],[$Other Expenses,$75,000,,75,000,],[$Dividends Declared,$50,000,,20,000,],[$Accumulated Depreciation,,$$155,000,,$$$75,000$

a$.$ ?Prepare all journal entries recorded by Pillow with regard to its investment in Sheet during $20$X$7.$

b$.$ ?Prepare all consolidation entries needed to prepare a full set if consolidated financial statements for $20$X$7.$

c$.$ ?Prepare a three$-$part consolidation worksheet as of December $31,20$X$7.$ ?