Plump Corporation acquired 100 percent of Slim Corporation's common stock on December 31, 20X2, for $230,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:

Item	Plump Corporation				Slim Corporation
Cash		$	35,000			$	27,000
Accounts Receivable			93,000				44,000
Inventory			128,000				68,000
Buildings & Equipment (net)			238,000				151,000
Investment in Slim Corporation Stock			230,000
Total Assets		$	724,000			$	290,000
Accounts Payable		$	84,000			$	25,000
Notes Payable			148,000				74,000
Common Stock			93,000				50,000
Retained Earnings			399,000				141,000
Total Liabilities & Stockholders Equity		$	724,000			$	290,000

At the date of the business combination, Slim's net assets and liabilities approximated fair value except for inventory, which had a fair value of $91,000, and buildings and equipment (net), which had a fair value of $167,000. Required: a. Prepare the consolidating entry or entries needed to prepare a consolidated balance sheet immediately following the business combination. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Prepare a consolidation balance sheet worksheet. (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.)