Pop Corporation (PC) purchased 75% of the voting stock of Samantha Company (SC) on January 1, 20x1 for P225,000. The non-controlling interest (NCI) is measured on a fair-value basis, and the carrying and fair value of SC's identifiable net assets are equal. Given below are the trial balances of the companies as of December 31, 20X1. Samantha Company Debit Credit 110,000 20,000 105,000 125,000 Pop Corporation Debit Credit Cash 100,000 Accounts Receivable 80,000 Inventory 150,000 Property, Plant, and Equipment (net) 300,000 Investment in Samantha Company 225,000 Cost of Goods Sold 325,000 Operating Expenses 120,000 Other Expenses 50,000 Dividend Declared 40,000 Sales 725,000 Accounts Payable 200,000 Bonds Payable 104,500 Common Stock 250,000 Retained Earnings 100,000 Dividend Income 10,500 Total 1,390,000 1,390,000 200,000 120,000 20,000 14,000 400,000 94,000 20,000 125,000 75,000 714,000 714,000 Required: Prepare the set of consolidated financial statements at the end of the year. Follow the process given in the handout