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 falr value of the common shares of Sandbox held by the noncontrolling interest was $90,000. Sandbox's balance sheet contained the followng balances: Required: 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 joumal entry required" in the first account field. Consolidation Worksheet Entries Record the basic consolidation entry