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 $437,000 and $184,000, respectively, common stock outstanding of $88,000, and retained earnings of $165,000. The book values and fair values of Scrub's assets and liabilities were identical except for land, which had increased in value by $17,000, and inventories, which had decreased by $8,000. 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 $278,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list A Record the basic consolidation entry. B Record the excess value (differential) reclassification entry. > Credit Note : = journal entry has been entered Record entry view consolidation entrie Clear entry 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 $249,000. (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. Accounts Debit Event 1 Credit Doord ontru