Power Corporation acquired 100 percent ownership of Scrub Company on February 12, 209. At the date of acquisition, Scrub Company reported assets and liabilities with book values of $436,000 and $170,000, respectively, common stock outstanding of $90,000, and retained earnings of $176,000. The book values and fair values of Scrub's assets and liabilities were identical except for land, which had increased in value by $21,000, and inventories, which had decreased by $7,000. Required: a. Prepare the following consolidation entries required to prepare a consolidated balance sheet immediately after the business combination assuming Power acquired its ownership of Scrub for $291,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries A B Record the basic consolidation entry. Note: Enter debits before credits. Event Accounts Debit Credit 1 Retained earnings >