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The December 31, 20X8, balance sheets for Pint Corporation and its 80 percent-owned subsidiary Saloon Company contained the following summarized amounts:

PINT CORPORATION AND SALOON COMPANY
Balance Sheets
December 31, 20X8
	Pint Corporation	Saloon Company
Assets
Cash and Receivables	$ 105,000	$ 41,000
Inventory	169,000	104,000
Buildings and Equipment (net)	323,000	295,000
Investment in Saloon Company	250,400
Total Assets	$ 847,400	$ 440,000
Liabilities and Equity
Accounts Payable	$ 133,400	$ 71,000
Common Stock	191,000	133,000
Retained Earnings	523,000	236,000
Total Liabilities and Equity	$ 847,400	$ 440,000

Pint acquired the shares of Saloon Company on January 1, 20X7. On December 31, 20X8, assume Pint sold inventory to Saloon during 20X8 for $103,000 and Saloon sold inventory to Pint for $300,000. Pints balance sheet contains inventory items purchased from Saloon for $101,000. The items cost Saloon $61,000 to produce. In addition, Saloons inventory contains goods it purchased from Pint for $32,000 that Pint had produced for $19,200. Assume Saloon reported net income of $73,000 and dividends of $14,600.

Required:

a. Prepare all consolidation entries needed to complete a consolidated balance sheet worksheet as of December 31, 20X8.

- Record the basic consolidation entry.

- Record the entry to defer this year's unrealized profit on inventory transfers.

b.

Prepare a consolidated balance sheet worksheet as of December 31, 20X8.

Note: Do not round intermediate calculations. 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.