Preparation of Consolidated Balance Sheet
Greene Company purchased 60 percent of White Corporation's voting shares on June 3, 2012, at book value. At that date, the fair value of the noncontrolling interest was equal to 40 percent
of the book value of White Corporation. The companies' permanent accounts on December 31, 2017, contained the following balances:
	Greene Company	White Corporation
Cash and Receivables	$101,000	$20,000
Inventory	80,000	40,000
Land	150,000	90,000
Buildings & Equipment	400,000	300,000
Investment in White Corporation Stock	141,000	________
	$872,000	$450,000
Accumulated 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
On January 1, 2013, Greene paid $100,000 for equipment with a 10-year expected total economic life.
The equipment was depreciated on a straight-line basis with no residual value.
White purchased the equipment from Greene on December 31, 2015, for $91,000. Assume White did not change the remaining estimated useful life of the equipment.
White sold land it had purchased for $30,000 on February 23, 2015, to Greene for $20,000 on October 14, 2016. Assume Greene uses the fully adjusted equity method.
Required
1. Prepare a consolidated balance sheet worksheet in good form as of December 31, 2017.
2. Prepare a consolidated balance sheet as of December 31, 2017.

			Consolidation Entries
	Greene Company	White Corporation	Dr	Cr	Consolidated
Cash and Receivables	$101,000	$20,000
Inventory	80,000	40,000
Land	150,000	90,000
Buildings & Equipment	400,000	300,000
Accumulated Depreciation	(135,000)	(85,000)
Investment in White Corporation Stock	141,000
Total Assets	$737,000	$365,000	$0	$0	$0
Accounts Payable	90,000	25,000
Notes Payable	200,000	90,000
Common Stock	100,000	200,000
Retained Earnings	347,000	50,000
NCI in NA of White Corporation
Total Liabilities & Equity	$737,000	$365,000	$0	$0	$0