Problem I Pet Corp acquires 80% of She on January 1,2011 for $320,000 in cash She has: Capital stock of $200,000 and a Retained Earning of $100,000 In the purchase it was identified that an Equipment was underestimated by $100,000 Detail at the end of the Pet and She period as follows: Combined Income and Retained Earnings Statement for the Year Ended December 31,2011 - Insert in the worksheet "consolidate wp" any line if needed - Complete the worksheets that support the consolidation adjustments for Pet and She as of December 31,2011 - She bought a bond to Pet for the amount of $100,000 value at 10% - of interest with a due date of December 31,2015 - Parvalue of the bond $100,000 - Interest is paid on December 31 of each year. - Use the worksheets shown in the "wp" tab to your advantage. WP2 Problem I Pet Corp acquires 80% of She on January 1,2011 for $320,000 in cash She has: Capital stock of $200,000 and a Retained Earning of $100,000 In the purchase it was identified that an Equipment was underestimated by $100,000 Detail at the end of the Pet and She period as follows: Combined Income and Retained Earnings Statement for the Year Ended December 31,2011 - Insert in the worksheet "consolidate wp" any line if needed - Complete the worksheets that support the consolidation adjustments for Pet and She as of December 31,2011 - She bought a bond to Pet for the amount of $100,000 value at 10% - of interest with a due date of December 31,2015 - Parvalue of the bond $100,000 - Interest is paid on December 31 of each year. - Use the worksheets shown in the "wp" tab to your advantage. WP2