Plug Products owns $80$ percent of the stock of Spark Filter Company, which it acquired at underlying book value on August $30,20$X$6.$ At that date, the fair value of the noncontrolling interest was equal to $20$ percent of the book value of Spark Filter. Summarized trial balance data for the two companies as of December $31,20$X$8,$ are as follows:

Plug Products Spark Filter Company

Credit Debit Credit Debit

Cash and Accounts Receivable $ $155,000$ $ $99,000$

Inventory $225,000114,000$

Buildings and Equipment $($net$)288,000181,000$

Investment in Spark Filter Company $246,828$

Cost of Goods Sold $173,000138,000$

Depreciation Expense $40,00030,000$

Current Liabilities $ $183,693$ $ $71,093$

Common Stock $186,00082,000$

Retained Earnings $471,000205,000$

Sales $253,907203,907$

Income from Spark Filter Company $33,228$

Total $ $1,127,828$ $ $1,127,828$ $ $562,000$ $ $562,000$

On January $1,20$X$8,$ Plug's inventory contained filters purchased for $$63,000$ from Spark Filter, which had produced the filters for $$43,000.$ In $20$X$8,$ Spark Filter spent $$103,000$ to produce additional filters, which it sold to Plug for $$150,907.$ By December $31,20$X$8,$ Plug had sold all filters that had been on hand January $1,20$X$8,$ but continued to hold in inventory $$45,272$ of the $20$X$8$ purchase from Spark Filter.

Required:

Prepare all consolidation entries needed to complete a consolidation worksheet for $20$X$8.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Compute consolidated net income and income assigned to the controlling interest in the $20$X$8$ consolidated income statement.

Compute the balance assigned to the noncontrolling interest in the consolidated balance sheet as of December $31,20$X$8.$