Power Corporation acquired 100 percent ownership of Upland Products Company on January 1, 20X1, for $240,000. On that date, Upland reported retained earnings of $66,000 and had $108,000 of common stock outstanding. Power has used the equity-method in accounting for its investment in Upland.

The trial balances for the two companies on December 31, 20X5, appear below.

		Power Corporation				Upland Products Company
Item		Debit		Credit		Debit		Credit
Cash & Receivables		$	51,000			$	73,000
Inventory			268,000				98,000
Land			88,000				88,000
Buildings & Equipment			508,000				158,000
Investment in Upland Products Stock			260,600
Cost of Goods Sold			128,000				58,000
Depreciation Expense			33,000				23,000
Inventory Losses			23,000				11,400
Dividends Declared			38,000				18,000
Accumulated Depreciation				$	213,000			$	121,000
Accounts Payable					68,000				28,000
Notes Payable					216,000				40,400
Common Stock					308,000				108,000
Retained Earnings					351,600				98,000
Sales					208,000				132,000
Income from Subsidiary					33,000
		$	1,397,600	$	1,397,600	$	527,400	$	527,400

Additional Information:

1.	On the date of combination (five years ago), the fair value of Uplands depreciable assets was $66,000 more than the book value. Accumulated depreciation at that date was $10,000. The differential assigned to depreciable assets should be written off over the following 10-year period.

2.	There was $18,000 of intercorporate receivables and payables at the end of 20X5.

Required:

a.

Prepare all journal entries that Power recorded during 20X5 related to its investment in Upland. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.

Prepare all consolidating entries needed to prepare consolidated statements for 20X5. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

c.

Prepare a three-part worksheet as of December 31, 20X5. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) WHAT I REALLY NEED HELP WITH IS THE OPTIONAL ACCUMULATED DEPRECIATION CONSOLIDATION ENTRY AND THE HOW TO CALCULATE. PLEASE AND THANK YOU.