rice Corporation acquired 100 percent ownership of Saver Company on January 1, 20X8, for $153,000. At that date, the fair value of Saver's buildings and equipment was $30,000 more than the book value. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, Price's management concluded at December 31, 20X8, that goodwill involved in its acquisition of Saver shares had been impaired and the correct carrying value was $5,000.

Trial balance data for Price and Saver on December 31, 20X8, are as follows:

Price CorporationSaver CompanyItemDebitCreditDebitCreditCash$22,000$26,000Accounts Receivable75,00014,500Inventory95,00030,000Land35,00020,000Buildings & Equipment340,000155,000Investment in Saver Company142,500Cost of Goods Sold130,000100,000Wage Expense59,50029,500Depreciation Expense27,50012,500Interest Expense14,5006,500Other Expenses23,50017,500Dividends Declared35,00018,500Accumulated Depreciation$147,500$65,000Accounts Payable70,00021,000Wages Payable22,00011,500Notes Payable155,00037,500Common Stock205,00060,000Retained Earnings107,00040,000Sales285,000195,000Income from Saver Company8,000$999,500$999,500$430,000$430,000

a. Prepare all consolidating entries needed to prepare a three-part consolidation worksheet as of December 31, 20X9.

b. Prepare a three-part consolidation worksheet for 20X9

c-1. Prepare a consolidated balance sheet for 20X9

c-2. Prepare a consolidated income statement for 20X9.

c-3. Prepare a retained earnings statement for 20X9.