Plepre D. a consolidation worksheet for 20x9 in good form. -23 Consolidated Worksheet at End of the First Year of Ownership (Equity Method) Paper Company acquired 100 percent of Scissor Company's outstanding common stock for $370,000 on January 1, 20X8, when the book value of Scissor's net assets was equal to $370,000. Paper uses the equity method to account for investments. Trial balance data for Paper and Scissor as of December 31, 20X8, are as follows: Paper Company Scissor Company Debit Debit Credit Credit Cash Accounts Receivable Inventory Investment in Scissor Company Land Buildings & Equipment Cost of Goods Sold Depreciation Expense Selling & Administrative Expense Dividends Declared Accumulated Depreciation Accounts Payable Bonds Payable Common Stock Retained Earnings Sales Income from Scissor Company Total $ 122,000 140,000 190,000 $46,000 60,000 120,000 0 125,000 250,000 155,000 12,000 50,000 25,000 438 250,000 875,000 250,000 65,000 280,000 80,000 $ 565,000 77,000 250,000 625,000 280,000 800,000 93,000 $2,690,000 $36,000 27,000 100,000 250,000 120,000 310,000 $843,000 $843,000 $2690,000 $2,690000 $843.000 $43000 Required a. Prepare the journal entries on Paper's books for the acquisition of Scissor on January 1, 20X8, as well as any normal equity-method entry(ies) related to the investment in Scissor Company during 20X8. Prepare a consolidation worksheet for 20X8 in good form. b. fnwnersbig (Equity Method)