Pop Corporation acquired $70$ percent of Soda Company's voting common shares on January $1,202,$ for $$118,300.$ At that date, the noncontrolling interest had a fair value of $$50,700$ and Soda reported $$70,000$ of common stock outstanding and retained earnings of $$31,000.$ The differential is assigned to buildings and equipment, which had a fair value $$24,000$ higher than book value and a remaining $10-$year life, and to patents, which had a fair value $$44,000$ higher than book value and a remaining life of five years at the date of the business combination. Trial balances for the companies as of December $31,20$X$3,$ are as follows:

$\backslash$table$[[$Item$,$Pop Corporation,Soda Company$],[$Debit$,$Credit,Debit,Credit$],[$Cash and Accounts Receivable,$$19,400,,$$$25,600,],[$Inventory$,169,000,,39,000,],[$Land$,84,000,,44,000,],[$Buildings and Equipment,$380,000,,264,000,],[$Investment in Soda Company,$119,280,,,],[$Cost of Goods Sold,$190,000,,83,800,],[$Depreciation Expense,$25,000,,20,000,],[$Interest Expense,$20,000,,9,200,],[$Dividends Declared,$34,000,,19,000,],[$Accumulated Depreciation,,$$144,000,,$$$85,000],[$Accounts Payable,,$96,400,,39,000],[$Bonds Payable,,$255,160,,99,000],[$Bond Premium,,,,$2,600],[$Common Stock,,$124,000,,70,000],[$Retained Earnings,,$131,900,,64,000],[$Sales$,,264,000,,145,000],[$Other Income,,$13,600,,],[$Income from Soda Company,,$11,620,,],[,$$$1,040,680,$$$1,040,680,$$$504,600,$$$504,600]]$

On December $31,202,$ Soda purchased inventory for $$27,000$ and sold it to Pop for $$45,000.$ Pop resold $$28,000$ of the inventory $($i$.$e$.,$ $$28,000$ of the $$45,000$ acquired from Soda$)$ during $203$ and had the remaining balance in inventory at December $31,20$X$3.$

During $20\backslash$times $3,$ Soda sold inventory purchased for $$54,000$ to Pop for $$90,000,$ and Pop resold all but $$26,000$ of its purchase. On March $10,20$X$3,$ Pop sold inventory purchased for $$14,000$ to Soda for $$28,000.$ Soda sold all but $$7,000$ of the inventory prior to December $31,20$X$3.$ Assume Pop uses the fully adjusted equity method, that both companies use straight$-$line depreciation, and that no property, plant, and equipment has been purchased since the acquisition.

Required:

a$.$ Prepare all consolidation entries needed to prepare a full set of consolidated financial statements at December $31,20$X$3,$ for Pop and Soda.

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

Answer is complete but not entirely correct.

$\backslash$table$[[$No$,$Entry,Accounts,Debit,Credit$],[$A$,1,$Common stock,$70,000,],[,$Retained earnings,$64,000,],[,$Income from Soda Company,$19,460,],[,$NCl in Net Income of Soda Company,$9,840$vv$,],[,$Dividends declared,,$19,000]]$ Answer is complete but not entirely correct.

$\backslash$table$[[$No$,$Entry,Accounts,,Debit,Credit$],[$A$,1,$Common stock,$($V$),70,000,],[,$Retained earnings,$($V$),64,000,],[,$Income from Soda Company,$($V$),19,460>,],[,$NCl in Net Income of Soda Company,$($V$),9,840,],[,$Dividends declared,V$,,19,000],[,$Investment in Soda Company,V$,,99,960$vv$],[,$NCl in Net assets of Soda Company,$($V$),,44,340>],[$B$,2,$Amortization expense,V$,8,800,],[,$Depreciation expense,V$,2,400,],[,$Income from Soda Company,V$,,7,840],[,$NCl in Net Income of Soda Company,$($V$),,3,360$vv$],[$C$,3,$Buildings and equipment,V$,22,000\backslash$times $,],[,$Patents,$($V$),17,600\backslash$times $,],[,$Accumulated depreciation,$($V$),,4,800$vv$],[,$Investment in Soda Company,$($V$),,24,360\backslash$times $],[,$NCl in Net assets of Soda Company,V$,,10,440\backslash$times $],[$D$,4,$Accumulated depreciation,$($V$),45,000,],[,$Buildings and equipment,V$,,45,000$vv$],[$E$,5,$NCl in Net assets of Soda Company,$2,3,360$vv$,],[,$Investment in Soda Company,$($V$),7,840,],[,$Cost of goods sold,V$,,11,200$vv$],[$F$,6,$NCl in Net assets of Soda Company,V$,2,040$vv$,],[,$Investment in Soda Company,$($V$),4,760,],[,$Inventory,$($V$),,6,$ Pop Corporation acquired $70$ percent of Soda Company's voting common shares on January $1,20$X$2,$ for $$118,300.$ At that date, the noncontrolling interest had a fair value of $$50,700$ and Soda reported $$70,000$ of common stock outstanding and retained earnings of $$31,000.$ The differential is assigned to buildings and equipment, which had a fair value $$24,000$ higher than book value and a remaining $10-$year life, s: b$.$ Prepare a thpart consolidation worksheet for $20$X$3.$