Prime Company holds 80 percent of Suspect Company's stock, acquired on January 1, 20X2, for $182,000. On the acquisition date, the fair value of the noncontrolling interest was $45,500. Suspect reported retained earnings of $50,000 and had $100,000 of common stock outstanding. Prime uses the fully adjusted equity method in accounting for its investment in Suspect. Trial balance data for the two companies on December 31,206, are as follows: Additional information 1. At the date of combination, the book values and fair values of all separately identifiable assets and liabilities of Suspect were the same. At December 31, 20X6, the management of Prime reviewed the amount attributed to goodwill as a result of its purchase of Suspect stock and concluded an impairment loss of $20,475 should be recognized in 206 and shared proportionately between the controling and noncontrolling shareholders. 2. On January 1, 205, Suspect sold land that had cost $10,000 to Prime for $22,500. 3. On January 1, 20x6. Prime sold to Suspect equipment that it had purchased for $82.500 on January 1,201. The equipment has a total economic life of 15 years and was sold to Suspect for $69,500. Both companies use straight-line depreciation. 4. There was $5,500 of intercompany recelvables and payables on December 31,206. Required: a. Give all consolidation entries needed to prepare a consolidation worksheet for 20X6. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Consolidation Worksheet Entries Consolidation Worksheet Entries EFG Record the amortized excess value reclassification entry. Note: Enter debits before crdits. Consolidation Worksheet Entries G Record the excess value (differential) reclassification entry. Note: Enter debits before crdits. Consolidation Worksheet Entries B G Record the entry to eliminate the intercompany receivable/payable. Note: Enter debits before crdits. Consolidation Worksheet Entries B: C G Record the entry to eliminate the gain on the sale of land. Note: Enter debits before crdits. Consolidation Worksheet Entries B: C D Record the entry to eliminate the gain on the equipment and to correct the asset's basis. Note: Enter debits before crdits. Consolidation Worksheet Entries B: C D E F Record the entry to adjust Accumulated Depreciation. Note: Enter debits before crdits