Pro Corporation purchased 11,000 shares of Schroeder Corporation on January 1, 20X3, at book value. At that date, the fair value of the noncontrolling interest was equal to 31.3 percent of Schroeder's book value. On December 31, 20X8, Schroeder reported these balance sheet amounts: Assets Cash Accounts Receivable Inventory Buildings & Equipment Less: Accumulated Depreciation Total Assets $ 81,000 121,000 210,000 640,000 (245,000) $ 807,000 Liabilities and Equities Accounts Payable Bonds Payable Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities & Equities $107,000 110,000 160,000 40,000 390,000 $807,000 On January 1, 20X9, Schroeder issued an additional 4,000 shares of its $10 par value common stock to Nonaffiliated Company for $70 per share. Required: a. Compute the change in book value of the shares held by Pro as a result of Schroeder's issuance of additional shares. (Do not round the percentage of stock held.) Change in book value of shares b. Prepare the entry to be recorded on Pro's books to recognize the change in book value of the shares it holds, assuming the change in book value is to be treated as an adjustment to additional paid-in capital. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Record the entry to recognize the change in book value of the shares held. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal c. Record the consolidation entry needed to prepare a consolidated balance sheet immediately after Schroeder's issuance of additional shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)