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Panem Corporation paid $180,000 for a 75% interest in Seam Co.'s outstanding Capital Stock on January 1, 2020, when Seam's stockholders' equity consisted of $150,000 of Capital Stock and $50,000 of Retained Earnings. Book values of Seam's net assets were equal to their fair values on this date. The adjusted trial balances of Panem and Seam on December 31, 2020 were as follows: Seam 35,000 $ Cash Dividends receivable Other current assets Land Plant assets-net Investment in Seam Cost of sales Other expenses Dividends Panem 8,250 7,500 40,000 50,000 100,000 195,000 225,000 45,000 25,000 695,750 50,000 30,000 150,000 125,000 25,000 20,000 435,000 $ $ $ 40,750 $ Accounts payable Dividends payable Capital stock Retained earnings Sales revenue Income from Seam 150,000 75,000 400,000 30,000 695,750 35,000 10,000 150,000 50,000 190,000 $ $ 435,000 Required: Complete the partially prepared consolidated balance sheet working papers that appear below. Give eliminating journal entries. Panem Corporation and Subsidiary Consolidated Balance Sheet Working Papers at December 31, 2020 Eliminations Balance Sheet Panem Seam Debit Credit $ 8.250 $ 35,000 ASSETS Cash Dividends Receivable Other current Assets 7,500 40,000 50,000 Land 50,000 30,000 Plant assets 100,000 150,000 195,000 Investment in Seam Total Assets $400,750 $285,0001 $_40.750 $ 35,000 EQUITIES Accounts payable Dividends Payable 10,000 150,000 150,000 Capital stock Retained Earnings 210,000 70,000 TOTAL EQUITIES $400,750 $285,000