Problem Company owns 90 percent of Solution Dairy's stock. The balance sheets of the two companies immediately after the Solution acquisition showed the following amounts: Problem Company Solution Dairy Assets Cash & Receivables Inventory Land Buildings & Equipment (net) Investment in Solution Dairy Total Assets Liabilities & Stockholders' Equity Current Payables Long-Term Liabilities Common Stock Retained Earnings Total Liabilities & Stockholders' Equity $ 147,000 210,000 85,000 406,000 279,900 $1,127,900 $ 84,000 104,000 52,000 222,000 $462,000 $ 66,000 279,900 396,000 386,000 $1,127,900 $ 35,000 146,000 71,000 210,000 $462,000 The fair value of the noncontrolling interest at the date of acquisition was determined to be $31,100. The full amount of the increase over book value is assigned to land held by Solution. At the date of acquisition, Solution owed Problem $15,000 plus $1,200 accrued interest. Solution had recorded the accrued interest, but Problem had not. Required: Prepare 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.) non conn MSAUSAIDIA DV PROBLEM COMPANY AND SUBSIDIARY Consolidated Balance Sheet Worksheet Consolidation Entries Solution Problem Co. Dairy DR CR Consolidated Assets Cash and receivables Inventory Land Buildings and equipment (net) Investment in Solution Dairy Total Assets Liabilities & Equity Current payables Long-term liabilities Common stock Retained earnings NCI in NA of Solution Dairy Total Liabilities & Equity Problem Company owns 90 percent of Solution Dairy's stock. The balance sheets of the two companies immediately after the Solution acquisition showed the following amounts: Problem Company Solution Dairy Assets Cash & Receivables Inventory Land Buildings & Equipment (net) Investment in Solution Dairy Total Assets Liabilities & Stockholders' Equity Current Payables Long-Term Liabilities Common Stock Retained Earnings Total Liabilities & Stockholders' Equity $ 147,000 210,000 85,000 406,000 279,900 $1,127,900 $ 84,000 104,000 52,000 222,000 $462,000 $ 66,000 279,900 396,000 386,000 $1,127,900 $ 35,000 146,000 71,000 210,000 $462,000 The fair value of the noncontrolling interest at the date of acquisition was determined to be $31,100. The full amount of the increase over book value is assigned to land held by Solution. At the date of acquisition, Solution owed Problem $15,000 plus $1,200 accrued interest. Solution had recorded the accrued interest, but Problem had not. Required: Prepare 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.) non conn MSAUSAIDIA DV PROBLEM COMPANY AND SUBSIDIARY Consolidated Balance Sheet Worksheet Consolidation Entries Solution Problem Co. Dairy DR CR Consolidated Assets Cash and receivables Inventory Land Buildings and equipment (net) Investment in Solution Dairy Total Assets Liabilities & Equity Current payables Long-term liabilities Common stock Retained earnings NCI in NA of Solution Dairy Total Liabilities & Equity