Prepare a consolidation worksheet for 20X9. Assume the company prepares the optional Accumulated Depreciation Consolidation Entry and that the depreciation expense was the same amount in both 20X8 and 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 one amount and enter this amount in the credit column of the worksheet.)

Peanut Company acquired 90 percent of Snoopy Company's outstanding common stock for $270,000 on January 1, 20X8, when the book value of Snoopy's net assets was equal to $300,000. Peanut uses the equity method to account for investments. The following trial balance summarizes the nancial position and operations for Peanut and Snoopy as of December 31, 20KB: Peanut Company Snoopy Company Debit Credit Debit Credit Cash $ 255,330 5 $5,303 Accounts Receivable 190,000 80,000 I nuentory 180 , 000 100 , 000 Investment in Snoopy Company 364,500 0 Land 200, 000 100, 000 Buildings and Equipment 300,000 200,000 Cost of Goods Sold 2?0,000 150,000 Depreciation Expense 50,000 10,000 Selling ll Administrative Expense 230,000 60,000 Dividends Declared 225,000 30,000 Accumulated Depreciation 500,000 30,000 Accounts Payable 75,000 35,000 Bonds Payable 150,000 85,000 Common Stock 500,000 200,000 Retained Earnings 51?,500 155,000 Sales assume-s 300,000 Income from Snoopy Company 72,000 0 Total $2,554,500 $2,654, 500 $805,000 $805,000