Pretzel Corporation acquired 100 percent of Stick Company's outstanding shares on January 1,207. Balance sheet data for the two companies immediately after the purchase follow: As indicated in the parent company balance sheet, Pretzel purchased $55,000 of Stick's bonds from the subsidiary at par value immediately after it acquired the stock. An analysis of intercompany receivables and payables also indicates that the subsidiary owes the parent $10,000. On the date of combination, the book values and fair values of Stick's assets and liabilities were the same. A Record the basic consolidation entry. B Record the excess value (differential) reclassification entry. C Record the entry to eliminate the intercompany accounts for Bonds Payable. D Record the entry to eliminate the remaining intercompany accounts. E Record the optional accumulated depreciation consolidation entry. \begin{tabular}{|c|c|c|c|} \hline Event & Accounts & Debit & Credit \\ \hline 1 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Record entry Clear entry view consolidation entries b. Complete a consolidated balance sheet worksheet. (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.) \begin{tabular}{|l|l|l|l|l|l|} \hline Goodwill & & & & \\ \hline Total Assets & & & & \\ \hline & & & & \\ \hline Liabilities \& Stockholders' Equity & & & & \\ \hline Accounts payable & & & & \\ \hline Bonds payable & & & & \\ \hline Common stock & & & & \\ \hline Capital in excess of par & & & & \\ \hline Retained earnings & & & & \\ \hline Total Liabilities \& Equity & & & & \\ \hline \end{tabular} PRETZEL CORPORATION AND SUBSIDIARY Consolidated Balance Sheet January 1, 207 Assets