Police Corporation acquired 100 percent of Station Corporation's voting shares on January 1, 20X3, at underlying book value. At that date, the book values and fair values of Station's assets and liabilities were equal Police uses the equity method in accounting for its investment in Station Adjusted trial balances for Police and Station on December 31, 20X4, are as follows: Police Corporation Item Station Corporation Debit Credit Debit Current Assets Credit $210.000 $150,000 Depreciable Assets (net) 300,000 210,000 Investment in Station Corporation 190,000 Depreciation Expense 25,000 15,000 Other Expenses 150,000 98,000 Dividends Declared 50,000 15,000 Current Liabilities 3 TO,000 $ 50,000 Long-Term Debt 100.eso 120,000 Common Stock 200.000 200,000 Retained Earnings 200.000 70.000 Sales 230.000 143,000 Income from Station Corporation 39,000 $925,000 $925,000 $430,000 $180,000 Required: a. Prepare the basic consolidation entry required on December 31 20X4 to prepare consolidated financial statements. If no entry is required for a transaction/event, select "No journal entry required in the first account field.)