Power Corporation acquired 100 percent ownership of Scrub Company on February 12, 20X9. At the date of acquisition, Scrub Company reported assets and liabilities with book values of $431,000 and $167,000, respectively, common stock outstanding of $81,000, and retained earnings of $183,000. 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 $6,000. 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 $289,000. b. 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 $260,000. Complete this question by entering your answers in the tabs below. Required A Required B 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 $289,000. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list View journal entry worksheet A Record the basic consolidation entry. Debit Credit 183,000 81,000 264,000 B Record the excess value (differential) reclassification entry. 21,000 11,000 6,000 26,000