Platinum Corporation acquired 10,500 shares of the common stock and 700 shares of the 8 percent preferred stock of Silver Company on December 31, 20X4, at the book value of the underlying stock interests. At that date, the fair value of the noncontrolling interest in Silver's common stock was equal to 30 percent of the book value of its common stock interest. Silver reported the following balance sheet amounts on January 1, 20X5: Cash Accounts Receivable Inventory $ 11,000 73,000 120,000 Accounts Payable Bonds Payable Preferred Stock Common Stock Buildings & Equipment 616,000 Less: Accumulated Depreciation Total Assets (144,000) Retained Earnings $ 696,000 Total Liabilities & Equities $ 95,000 92,000 175,000 150,000 184,000 $696,000 Silver's preferred stock is $100 par value, and its common stock is $10 par value. The preferred dividends are cumulative and are two years in arrears on January 1, 20X5. Silver reports net income of $44,000 for 20X5 and pays no dividends Required: a. Present the worksheet consolidation entry needed to prepare a consolidated balance sheet on January 1, 20X5 (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 basic consolidation entry.