Refer to the information below and Worksheet 3-1. On January 1, 2016, Parent Company purchased 80% of the common stock of Subsidiary Company for $316,000. On this date, Subsidiary had common stock, other paid-in capital, and retained earnings of $40,000,$120,000, and $190,000, respectively. Net income and dividends for 2 years for Subsidiary Company were as follows: Net income Dividends On January 1,2016, the only tangible assets of Subsidiary that were undervalued were inventory and building. Inventory, for which FIFO is used, was worth $5,000 more than cost. The inventory was sold in 2016. Building, which was worth $15,000 more than book value, has a remaining life of S years, and straight-line depreciation is used. Any remaining excess is goodwill. Required: a. Complete the consolidating worksheet for December 31,2017