Please Help With the JE's Below, Thank you!

Plaza Corporation purchased 70 percent of Square Company's voting common stock on January 1, 20X5, for $292,600. On that date, the noncontrolling interest had a fair value of $125,400 and the book value of Square's net assets was $382,000. 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 $ 86,000 116,000 251,000 PLAZA CORPORATION AND SQUARE COMPANY Trial Balance Data December 31, 20X9 Plaza Corporation Item Debit Credit Cash and Receivables $ 82,300 Inventory 204,000 Land, Buildings, & Equipment (net) 271,000 Investment in Square Company 289,404 Cost of Goods & Services 188,000 Depreciation Expense 20,000 Dividends Declared 15,000 Sales & Service Revenue $ 315,000 Income from Square Company 58,704 Accounts Payable 58,000 Common Stock 197,000 Retained Earnings 441,000 Total $1,069,704 $1,069, 704 138,000 10,000 6,000 $215,000 29,000 152,000 211,000 $607,000 $607,000 On January 1, 20X9, Plaza's inventory contained $42,000 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. During 20X9, Square sold inventory costing $41,000 to Plaza for $66,000. Plaza held all inventory purchased from Square during 20x9 on December 31, 20X9. Also during 20X9, Plaza sold goods costing $66,600 to Square for $111,000. Square continues to hold $37,740 of its purchase from Plaza on December 31, 20X9. Assume Plaza uses the fully adjusted equity method. Required: a. Prepare all consolidation entries needed to complete a consolidation worksheet as of December 31, 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) A 1 Common stock Retained earnings Income from Square Company NCI in Nl of Square Company 152,000 211,000 58,704 Dividends declared 6,000 Investment in Square Company NCI in NA of Square Company B 2 Land 14,000 22,000 Goodwill Investment in Square Company NCI in NA of Square Company C 3 Investment in Square Company NCI in NA of Square Company Cost of goods sold D 4 Sales Cost of goods sold Inventory b. Prepare a consolidation worksheet as of December 31, 20X9. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) Answer is not complete. PLAZA CORPORATION & SUBSIDIARY Consolidated Financial Statement Worksheet December 31, 20X9 Consolidation Entries Plaza Corp. Square Co. DR CR Consolidated Income Statement Sales $ $ $ Less: COGS 315,000 (188,000) (20,000) 58,704 165,704 215,000 (138,000) (10,000) 530,000 (326,000) (30,000) 58,704 Less: Depreciation Expense Income from Square Company 0 Consolidated Net Income 67,000 0 0 232,704 NCI in Net Income NCI in Net Income $ 165,704 $ 67,000 $ 0 $ 0 $ 232,704 $ Controlling Interest in Net Income Statement of Retained Earnings Beginning balance Net income Less: Dividends declared Ending Balance 441,000 165,704 (15,000) 591,704 211,000 67,000 (6,000) 272,000 652,000 232,704 (21,000) 863,704 $ $ $ 0 0 $ Balance Sheet Cash and Receivable $ 86,000 $ 116,000 Inventory Land, Buildings, & Equipment (net) Investment in Square Company 82,300 204,000 271,000 289,404 168,300 320,000 522,000 289,404 251,000 0 Goodwill 0 Total Assets $ 846,704 453,000 $ $ 0 $ $ $ Accounts Payable $ $ 58,000 197,000 591,704 Common Stock 1,299,704 87,000 197,000 863,704 29,000 152,000 272,000 152,000 Retained Earnings NCI in NA of Square Company Total Liabilities & Equity $ 846,704 $ 453,000 $ 152,000 $ 0 $ 1,147,704