Prophet Corporation acquired 75 percent of Seer Corporations voting common stock on December 31, 20X4, for $390,000. At the date of combination, Seer reported the following: Assets Liabilities Current Assets $ 220,000 Current Liabilities $ 80,000 Long-Term Assets (net) 420,000 Long-Term Liabilities 200,000 Common Stock 120,000 Retained Earnings 240,000 Total $ 640,000 Total $ 640,000 At December 31, 20X4, the book values of Seer's net assets and liabilities approximated their fair values, except for buildings, which had a fair value of $80,000 more than book value, and inventories, which had a fair value of $36,000 more than book value. The fair value of the noncontrolling interest was determined to be $130,000 at that date. Required: Prophet Corporation wishes to prepare a consolidated balance sheet immediately following the business combination. Prepare the consolidation entry or entries needed to prepare a consolidated balance sheet at December 31, 20X4. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)