Playtown Corporation purchased 75 percent of Sandbox Corporation common stock and 40 percent of its preferred stock on January 1.20X6, for $270,000 and $80,000, respectively. At the time of purchase, the fair value of the common shares of Sandbox held by the noncontrolling interest was $90,000 Sandbox's balance sheet contained the following balances Preferred Stock ($10 par value) Common Stock ($5 par value) Retained Earnings Total Stockholders' Equity Required: $ 200,000 150,000 210,000 $560,000 Prepare the consolidation entries needed to prepare a consolidated balance sheet immediately after Playtown purchased the Sandbox shares. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. ces view transaction list Consolidation Worksheet Entries < A Record the basic consolidation entry. Note: Enter debits before credits. Event 1 Accounts Debit Credit Record entry Clear entry view consolidation entries