Plaza Corporation purchased 70 percent of Square Company's voting common stock on January 1, 20X5, for $299,600. On that date, the noncontrolling interest had a fair value of $128,400 and the book value of Square's net assets was $392,000. The book values and fair values of Square's assets and liabilities were equal except for land that had a fair value $14,000 higher than book value. The amount attributed to goodwill as a result of the acquisition is not amortized and has not been impaired. Square Company Debit Credit $ 97,000 110,000 258,000 PLAZA CORPORATION AND SQUARE COMPANY Trial Balance Data December 31, 20X9 Plaza Corporation Item Debit Credit Cash and Receivables $ 93,300 Inventory 206,000 Land, Buildings, & Equipment (net) 278,000 Investment in Square Company 302,508 Cost of Goods & Services 196,000 Depreciation Expense 23,000 Dividends Declared 18,000 Sales & Service Revenue $ 313,000 Income from Square Company 45,908 Accounts Payable 51,000 Common Stock 198,000 Retained Earnings 508,900 Total $1,116,808 $1,116,808 146,000 13,000 4,000 $213,000 25,000 162,000 228,000 $628,000 $628,000 On January 1, 20X9, Plaza's inventory contained $34,000 of unrealized intercompany profits recorded by Square. Square's inventory on that date contained $15,000 of unrealized intercompany profits recorded on Plaza's books. Both companies sold their ending 20X8 inventories to unrelated companies in 20X9. Required: a. Prepare all consolidation entries needed to complete a consolidation worksheet as of December 31, 20X9 for a transaction/event, select "No journal entry required" in the first account field.) view transaction list