Pink Company acquired 80 percent of Scarlet Company's outstanding common stock for $52,000 on January 1, 2019, equals to the book value of Scarlet's net assets. Adjusted trial balance data for Pink and Scarlet as of December 31, 2018, are as follows (all amounts are in dollars): Pink Company Scarlet Company D8 CR DR CB Cash $15,000 $10,500 Accounts Receivable 19,860 7,500 Inventory 22,000 7,600 Investment in Scarlet 62,640 Land 22,000 27,700 Buildings and equipment 87,500 58,000 Cost of Goods Sold 32,500 38,200 Depreciation Expense 6,700 2,800 Selling and Administrative Expense 25,600 17,500 Dividends Declared 8,200 3,200 Accumulated Depreciation $46,500 $14,500 Accounts Payable 29,300 8,500 Bonds Payable 20,000 10,000 Common Stock Retained Earnings Sales Income from Scarlet Total 85,000 40,000 28,000 25,000 80,000 75,000 13,200 $302,000 $302,000 $173,000 $173,000 a) Prepare the journal entries on Pink's books for the acquisition of Scarlet on January 1, 2019 and entries related to the investment in Scarlet Company during 2019 (15 points). b) Prepare Book Value calculation table (10 points) c) Prepare basic consolidation entry (35 points). d) Prepare accumulated depreciation consolidation entry (10 points). e) Prepare a consolidation worksheet for 2019 in good form (30 points)