Plaza Corporation purchased 70 percent of Square Company's voting common stock on January 1,20X5, for $295,400. On that date, the noncontroling interest had a fair value of $126,600 and the book value of Square's net assets was $386,000 The book values and fair values ofSquareS asseand latins were equal except for lind that hd a tar value S1400 higher than book vete Ther amount attributed to gcooha as a resaofthe acqRmner s not amortized and has not been mpMed Trial Salance Data Decesber 13,28 135,000 229,000 285.800 Land, Buildings,&Equipeent (net Investaent in Square Cospany 45,800 17,900 & Services Depreciation E 27,e0 s Declared Sales & Service Revene Incone from Square Company Accounts Payable Conmon Stock 318,80 $210,990 s8,8ee 24,009 Retained Earnings 1,348,808 $1,18, 6,000 3640,0 On January 1, 20x9, Plaza's inventory on that date contained $15.000 of unrealized intercompany profits recorded on Plaza's books. Both profts contained $34,000 of unrealized Intercompany profits recorded by Square. Square's inventory companies sold their ending 20xB inventones to unrelated companies in 20x9 companies in 20xstery profts to Plaza for $71000 Plaza held all inventory purchased from Square duning Drng 209. So are sold in emory cost g $46000 Pazahe der n ory 20x9 on December 31, 20x9 Also during 20X9, Plaza sold goods costing $58,200 to Square for $97,000 Square $32980 of its purchase from Plaza on December 31. 20x9 Assume Plaza uses the fuily adjusted equity method a Prepare all consolidation entries needed to complete a consolidation worksheet as of December 31, 20x9 of no entry Is required Prey f Next e to search F8 F12 5 6 7 8 Required: a Prepare all consolidation entries needed to complete a consolidation worksheet as of December 31, 20x9 of no entry is required for a transectlion/event, select "No Journal entry required In the first account fleld.) Consolidation Worksheet Entries Record the excess value (differential) reclassification entry Note Ener debits before credts Clear entry Proy 1 of1Next here to search F6 FB F10