Pop Company acquired all of Soda Corporation's common shares on January 2, 20X3, for $837,000. At the date of combination, Sodas balance sheet appeared as follows: AssetsLiabilitiesCash & Receivables $54,000 Current Payables $45,000 Inventory 178,000 Notes Payable 93,000 Land 64,000 Stockholders' Equity Buildings (net) 267,000 Common Stock 194,000 Equipment (net) 331,000 Additional Capital 405,000 Retained Earnings 157,000 Total $894,000 Total $894,000 The fair values of all of Soda's assets and liabilities were equal to their book values except for its fixed assets. Soda's land had a fair value of $79,000; the buildings, a fair value of $313,000; and the equipment, a fair value of $351,000. Pop Company decided to employ push-down accounting for the acquisition of Soda Corporation. Subsequent to the combination, Soda continued to operate as a separate company. Required:a. Record the acquisition of Soda's stock on Pop's books.

• Record the initial investment in Soda Corporation.
• Record the revaluation of assets on the books of Soda Corporation.
• Record the basic consolidation entry.