Pizza Corporation acquired 80 percent ownership of Slice Products Company on January 1, 20X1, for $152,000. On that date, the fair value of the noncontrolling interest was $38,000, and Slice reported retained earnings of $45,000 and had $97,000 of common stock outstanding. Pizza has used the equity method in accounting for its investment in Slice. Trial balance data for the two companies on December 31, 20X5, are as follows:

	Pizza Corporation						Slice Products Company
Item	Debit			Credit			Debit			Credit
Cash & Receivables	$	89,000					$	71,000
Inventory		274,000						92,000
Land		82,000						82,000
Buildings & Equipment		511,000						153,000
Investment in Slice Products Company		183,200
Cost of Goods Sold		116,000						45,000
Depreciation Expense		24,000						14,000
Inventory Losses		14,000						6,000
Dividends Declared		32,000						14,000
Accumulated Depreciation				$	197,000					$	98,000
Accounts Payable					41,000						11,000
Notes Payable					247,040						84,000
Common Stock					297,000						97,000
Retained Earnings					311,000						87,000
Sales					208,000						100,000
Income from Slice Products Company					24,160
	$	1,325,200		$	1,325,200		$	477,000		$	477,000

Additional Information

1. On the date of combination, the fair value of Slice's depreciable assets was $48,000 more than book value. The accumulated depreciation on these assets was $10,000 on the acquisition date. The differential assigned to depreciable assets should be written off over the following 10-year period.
2. There was $12,000 of intercorporate receivables and payables at the end of 20X5.

Required: a. Prepare all journal entries that Pizza recorded during 20X5 related to 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 all consolidation entries needed to prepare consolidated statements for 20X5. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

c. Prepare a three-part worksheet as of December 31, 20X5. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)