Popeye Inc acquired 80 percent of the outstanding shares of SweepeaLLC for $120,000 cash on December 31, 2017. At the time of acquisition, the book value of the shareholders' equity of Swee Pea LLC was $30,000, comprising the following account balances: Swee'pea, December 31st, 2017 Common Stock Retained Earnings 54,000 36,000 90,000 Other available information in regards to SweePea's books Carrying Va Fair Value Land Inventory Machinery 80,000 12,000 82,500 174,500 90,000 16,000 94,000 200,000 Create the appropriate elimination entries and consolidate balance sheet for December 31st 2017 Elimination Entries Dr Cr Financial Statements Cash Receivables Inventories Investment in Swee'Pea Land Machinery Accumulated Depreciation Deferred Tax Assets ee'Pee 142,700 38,500 12,000 273,500 44,000 55,000 120,000 150,000 360,000 (110,000) 7,500 80,000 125,500 (43,000) 4,500 Accounts Payable Other Current Liabilities Deferred Tax Liabilities Other Accrued Payables CapitalStock Retained Earnings 68,500 215,000 2,500 100,000 360,000 154,000 79,000 100,000 1200 90,000 54,000 36,000