Plant Advertising Corporation acquired $60$ percent of Seed Manufacturing Company's shares on December $31,20$X$1,$ at underlying

book value of $$180,000.$ At that date, the fair value of the noncontrolling interest was equal to $40$ percent of the book value of Seed

Manufacturing. Seed's balance sheet on January $1,20$X$7,$ contained the following balances:

On January $1,20$X$7,$ Seed purchased $2,000$ of its own $$10$ par value common shares from Nonaffiliated Corporation for $$42$ per share.

Required:

a$.$ Compute the change in the book value of the parent's equity as a result of the repurchase of shares by Seed Manufacturing.

b$.$ Prepare the entry to be recorded on Plant Advertising's books to recognize the change in the book value of the shares it holds.

c$.$ Prepare the consolidation entry needed in preparing a consolidated balance sheet immediately following the purchase of shares by

Seed.