Power Corporation acquired 75 percent of Best that date, the fair value of the noncontrolling Interest Cemeary's ownership on Jawy 1, 20xafor Sedoo. A was $32.000. The bock value of Best's net uisition was $100,000. Acorulated depreciatin on te buidings and acquisition date. The book values and fair vakues of Bests assets and labilites were equel, except for Best's buildings and equipment, which were worth $20,000 more than book volue. Buildings and equipment are depreciated on a 10-year basis Although goodwill is not amortized, the management of Power concluded at December 31, 20x8, h goodwill trom its purchase of Best shares had been impaired and the correct carrying amount was $2,500 Goodwill and goodwill impairment were assigned propotionately to the shareholders. No additional impairment cccurred in 20x9. Trial balance data for Power and Best on December 31, 20X9, are as follows Best Company Debit 32,000 Cred Debit Cash $ 68,500 85,000 97,000 14,000 24,000 25,000 150,000 Buildings & Equipment Investment in Best Co. Stock Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared 350,000 106.375 145,000 35,000 25,000 12,000 23,000 30,000 114,000 20.000 10,000 4,000 16,000 $ 50,000 15,000 6,000 50,000 60,000 48,000 200,000 170.00020.000 Accounts Payable Wages Payabile Notes Payable Common Stock Retained Earnings 51,000 14,000 150,000 200,000 126,875 290,000 25,500 Income from Subaidiary 1,027,375 $ 1,027.375 $429,000 $ 429.000 Required: a three-part consolidation worksheet for 20X9. (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 on. amount and onter this am ount in the credit column of the worksheet.) Ch. 5 Graded Homework Assignment Worksheet Entries Record the amortized excess value reclassification entry Note: Enter debits before credits Debit Credit Accounts Entry