Powder Company spent $$240,000$ to acquire all of Sawmill Corporation's stock on January $1,202.$ The balance sheets of the two

companies on December $31,20$X$3,$ showed the following amounts:

Sawmill reported retained earnings of $$100,000$ at the date of acquisition. The difference between the acquisition price and underlying

book value is assigned to buildings and equipment with a remaining economic life of $10$ years from the date of acquisition. Assume

Sawmill's accumulated depreciation on the acquisition date was $$25,000.$

Required:

a$.$ Prepare the appropriate consolidation entry or entries needed to prepare a consolidated balance sheet as of December $31,203.$

b$.$ Prepare a consolidated balance sheet worksheet as of December $31,20$X$3.$