Platinum Corporation acquired 14,000 shares of the common stock and 600 shares of the 8 percent preferred stock Silver Company on December 31 , 20X4 , the book value of the underlying stock Interests . At that datethe value of the noncontrolling interest in Silver's common stock was equal to 30 percent of book value of common stock interest . Silver reported the following balance sheet amounts January 120X5 . Silver's preferred stock is $100 par valueand its common stock is $10 par value. The preferred dividends are cumulative and are two years in artears on January 1, 20X5. Silver reports net income of $46,000 for 20 * 5 and pays no dividends. Required: a Present the worksheet consolidation entry needed to prepare a consolidated balance sheet on January 1 (no entry is required for transaction/event, select "No Journal entry required the first account field.)

Platinum Corporation acquired 14,000 shares of the common stock and 600 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, 2005: Cash Accounts Receivable Inventory Buildings & Equipment Less: Accumulated Depreciation Total Assets $ 44,00 Accounts Payable 81, eee Bonds Payable 140,000 Preferred Stock 686, eee Common Stock (139,080) Retained Earnings $ 732,800 Total Liabilities & Equities $ 107,000 86,898 150, eee 200,000 189, eee $732,000 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 $46,000 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 fleld.) Required: a. Present the worksheet consolidation entry needed to prepare a consolidated balance sheet on January 1, 2005. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) view transaction list Consolidation Worksheet Entries