PROBLEM 32 Consolidated Balance Sheet Workpaper L08) Consolidated Balance Sheet Workpaper Lo8 Lo9 LO9 On January 1, 2011, Perry Company purchased 8,000 shares of Soho Company's common stock for $120,000. Immediately after the stock acquisition, the statements of financial posi- tion of Perry and Soho appeared as follows: Assets Perry Soho $ 19,000 31,000 25,000 Cash Accounts receivable Inventory Investment in Soho Company Plant assets Accumulated depreciation-plant asset 39,000 53,000 42,000 120,000 160,000 52,000) $362,000 110,500 (19,500) 166,000 Total Liabilities and Owners' Equity Current liabilities Mortgage notes payable Common stock, $10 par value Other contributed capital Retained earnings $ 26,000 $ 18,500 40,000 120,000 135,000 48,500 $362,000 100,000 16,500 23,500 $166,000 Total