Power Corporation acquired 75 percent of Best Companys ownership on January 1, 20X8, for $90,000. At that date, the fair value of the noncontrolling interest was $30,000. The book value of Bests net assets at acquisition was $89,000. The book values and fair values of Bests assets and liabilities were equal, except for Bests buildings and equipment, which were worth $17,800 more than book value. Accumulated depreciation on the buildings and equipment was $27,000 on the acquisition date.Buildings and equipment are depreciated on a 10-year basis.

Although goodwill is not amortized, the management of Power concluded at December 31, 20X8, that goodwill from its purchase of Best shares had been impaired and the correct carrying amount was $2,500. Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders.

Trial balance data for Power and Best on December 31, 20X8, are as follows:

	Power Corporation				Best Company
Item	Debit		Credit		Debit		Credit
Cash	$	52,500			$	24,000
Accounts Receivable		74,000				15,000
Inventory		94,000				28,000
Land		48,000				18,000
Buildings and Equipment		366,000				169,000
Investment in Best Co. Stock		97,740
Cost of Goods Sold		118,000				103,000
Wage Expense		35,000				24,000
Depreciation Expense		21,000				9,000
Interest Expense		8,000				3,000
Other Expenses		9,500				4,000
Dividends Declared		39,000				15,200
Accumulated Depreciation			$	126,000			$	36,000
Accounts Payable				45,000				15,000
Wages Payable				16,000				11,000
Notes Payable				196,600				80,200
Common Stock				194,000				54,000
Retained Earnings				96,000				35,000
Sales				270,000				181,000
Income from Subsidiary				19,140
	$	962,740	$	962,740	$	412,200	$	412,200

Required:

a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) b. Prepare a three-part consolidation worksheet for 20X8