Polka Corporation acquired $100$ percent of Song Company's voting stock on January $1,20$X$4,$ at underlying book value.

Polka uses the equity method in accounting for its ownership of Song. On December $31,20$X$4,$ the trial balances of the two

companies are as follows:

Required:

a$.$ Prepare all consolidation entries required on December $31,204,$ to prepare consolidated financial statements.

Record the basic consolidation entry

Record the optional accumulated depreciation consolidation entry

b$.$ Prepare a three$-$part consolidation worksheet as of December $31,204.$