Ques 4) Please provide the answer in word or excel:

4) Parent Corporation paid $100,000 to acquire all the common shares of Subsidiary Inc. on December 31, 2017. At that date, Parent Corporation also had an outstanding note payable to Subsidiary Inc. in the amount of $60,000 Assume that Parent Corporation and Subsidiary Inc. had the following account balances at December 31, 2017 (immediately after the investment): Assets: Parent Corporation $10,000 Subsidiary Inc. $35,000 60,000 60,000 Cash Note receivable from Parent Corporation Inventory Investment in Subsidiary Inc. Other assets Total 40,000 110,000 110,000 $260,000 75,000 $230,000 $130,000 Liabilities and shareholders' equity: Accounts payable Note payable to Subsidiary Inc. Common shares Retained earnings Total $30,000 60,000 100,000 70.000 $260,000 60,000 40,000 $230,000 Using the worksheet to calculate the Consolidated Amounts for December 31, 2017