Price Corporation acquired 100 percent ownership of Saver Company on January 1, 20X8, for $138,000. At that date, the fair value of Savers buildings and equipment was $24,000 more than the book value. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, Prices management concluded at December 31, 20X8, that goodwill involved in its acquisition of Saver shares had been impaired and the correct carrying value was $3,500. Trial balance data for Price and Saver on December 31, 20X8, are as follows: Price Corporation Saver Company Item Debit Credit Debit Credit Cash $ 20,500 $ 23,000 Accounts Receivable 72,000 13,000 Inventory 92,000 27,000 Land 32,000 17,000 Buildings & Equipment 352,000 152,000 Investment in Saver Company 128,100 Cost of Goods Sold 127,000 112,000 Wage Expense 43,000 28,000 Depreciation Expense 26,000 11,000 Interest Expense 13,000 5,000 Other Expenses 17,500 10,000 Dividends Declared 32,000 17,000 Accumulated Depreciation $ 146,000 $ 50,000 Accounts Payable 55,000 18,000 Wages Payable 19,000 10,000 Notes Payable 152,000 51,000 Common Stock 202,000 60,000 Retained Earnings 104,000 40,000 Sales 270,000 186,000 Income from Saver Company 7,100 $ 955,100 $ 955,100 $ 415,000 $ 415,000 Required: a. Prepare the following consolidating entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Prepare a three-part consolidation worksheet for 20X8. (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.)