Pop Corporation acquired 70 percent of Soda Company's voting con nga share on January 120x2 for $114800. At that date, the noncontrolling interest had a far value of $49,200 and Soda reported $70.000 of conno Mock outstanding and retained earnings of $25,000. The differentiis asagned to buildings and equipment which had a fal value $22.000 higher than book value and a remaining 10-year life, and to patents, which had a far value $47.000 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, 20X3. are as follows Ceasy Cred 30 1.000 42.000 262,000 It can accounts Receivable Investory Long Dudings & Equipment Invention Company Coat of Gadda Soid Depreciation Expense Intel Expo Dividends leted Add Depreciation Accounts Payable Bands Fayable Bond Denim Cono Stock Ratinaning Selea Other Income The Er Soda Company Popcorpo Lebi 17.00 267.000 62,000 360.000 117.100 300.000 25,000 10.000 32.000 142.000 54,00 235. 4.000 20.000 7.200 22.000 122.000 1.300 263.000 11,600 10,420 $3.006.500 51.00, 500 90.000 27,000 90.000 1.00 795.000 2000 145.000 $690.6001499,00 On December 31, 20X2. Soda purchased inventory for $30,000 and sold to Pop for $50,000 Pop resold $29,000 of the inventory lie, $29,000 of the $50,000 acquired from Soda) during 20x3 and had the remaining balance in inventory at December 31, 20X3 During 20X3. 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, 20X3, Pop sold inventory purchased for $16,000 to Soda for $32000. Soda sold all but $8.000 of the inventory prior to December 31, 20X3. 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: 3. Prepare all consolidation entries needed to prepare a full set of consolidated financial statements at December 31, 20x3 for Pop and Soda (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Pop Corporation acquired 70 percent of Soda Company's voting con nga share on January 120x2 for $114800. At that date, the noncontrolling interest had a far value of $49,200 and Soda reported $70.000 of conno Mock outstanding and retained earnings of $25,000. The differentiis asagned to buildings and equipment which had a fal value $22.000 higher than book value and a remaining 10-year life, and to patents, which had a far value $47.000 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, 20X3. are as follows Ceasy Cred 30 1.000 42.000 262,000 It can accounts Receivable Investory Long Dudings & Equipment Invention Company Coat of Gadda Soid Depreciation Expense Intel Expo Dividends leted Add Depreciation Accounts Payable Bands Fayable Bond Denim Cono Stock Ratinaning Selea Other Income The Er Soda Company Popcorpo Lebi 17.00 267.000 62,000 360.000 117.100 300.000 25,000 10.000 32.000 142.000 54,00 235. 4.000 20.000 7.200 22.000 122.000 1.300 263.000 11,600 10,420 $3.006.500 51.00, 500 90.000 27,000 90.000 1.00 795.000 2000 145.000 $690.6001499,00 On December 31, 20X2. Soda purchased inventory for $30,000 and sold to Pop for $50,000 Pop resold $29,000 of the inventory lie, $29,000 of the $50,000 acquired from Soda) during 20x3 and had the remaining balance in inventory at December 31, 20X3 During 20X3. 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, 20X3, Pop sold inventory purchased for $16,000 to Soda for $32000. Soda sold all but $8.000 of the inventory prior to December 31, 20X3. 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: 3. Prepare all consolidation entries needed to prepare a full set of consolidated financial statements at December 31, 20x3 for Pop and Soda (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)