Preparation of Consolidated Balance Sheet ABC Company purchased 70 percent of XYZ Corporation's voting shares on June 3, 2016, at book value. At that date, the fair value of the noncontrolling interest was equal to 30 percent of the book value of White Corporation. The companies' post-closing trial balance contained the following permannet accounts and balances on December 31, 2021: ABC Company XYZ Corporation Cash and Receivables $101,000 $20,000 Inventory 80,000 40,000 Land 150,000 190,000 Buildings & Equipment 369,533 200,000 Investment in White Corporation Stock 171,467 $872,000 $450,000 Acumulated Depreciation $135,000 $85,000 Accounts Payable 90,000 25,000 Notes Payable 200,000 90,000 Common Stock 100,000 200,000 Retained Earnings 347,000 50,000 $872,000 $450,000 Other relevant information: On January 1, 2016, XYZ paid $150,000 for equipment with a 25-year expected total economic life. The equipment was depreciated on a straight-line basis with no residual value. ABC purchased the equipment from XYZ on December 31, 2019, for $100,000. Assume ABC did not change the remaining estimated useful life of the equipment. ABC sold land it had purchased for $100,000 on February 23, 2018, to XYZ for $120,000 on October 14, 2020. Assume ABC uses the fully adjusted equity method. Required 1. Prepare a consolidated balance sheet worksheet in good form (using formulas whenever possible) as of December 31, 2021. 2. Prepare a consolidated balance sheet as of December 31, 2021. Use formulas whenever possible.