Talbott Company purchased 80 percent of Short Companys stock on January 1, 20X8, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 20 percent of Shorts book value. On December 31, 20X9, Short purchased 10 percent of Talbotts stock. Balance sheets for the two companies on December 31, 20X9, are as follows:

TALBOTT COMPANY Condensed Balance Sheet December 31, 20X9
Cash	$	80,000		Accounts Payable	$	84,000
Accounts Receivable		166,000		Bonds Payable		385,000
Inventory		143,000		Common Stock		345,000
Buildings & Equipment (net)		380,000		Retained Earnings		355,000
Investment in Short Co.		400,000
Total Assets	$	1,169,000		Total Liabilities & Equities	$	1,169,000

SHORT COMPANY Condensed Balance Sheet December 31, 20X9
Cash	$	40,000		Accounts Payable	$	58,000
Accounts Receivable		102,000		Bonds Payable		100,000
Inventory		126,000		Common Stock		230,000
Buildings & Equipment (net)		320,000		Retained Earnings		270,000
Investment in Talbott Co.		70,000
Total Assets	$	658,000		Total Liabilities & Equities	$	658,000

Required: Assuming that the treasury stock method is used in reporting Talbotts shares held by Short, prepare a consolidated balance sheet worksheet and consolidated balance sheet for December 31, 20X9. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)

Slou De ddjusing one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) TALBOTT COMPANY AND SUBSIDIARY Consolidated Balance Sheet Worksheet December 31, 20X9 Consolidation Entries Talbott Co. Short Co. DR CR Consolidated Balance Sheet Cash Accounts Receivable $ 0 S 05 0 $ 0 $ 0 Inventory Buildings & Equipment (net) Investment in Short Co. Investment in Talbott Co. Total Assets Accounts Payable Bonds Payable Common Stock Retained Earnings Treasury Stock NCI in NA of Short Co. Total Liabilities & Equity $ 0 $ 0 $ 0 $ 0 $ 0 (Amounts to be deducted should be indicated by a minus sign.) TALBOTT COMPANY AND SUBSIDIARY Consolidated Balance Sheet December 31, 20x9 Current assets: 0 Noncurrent assets 0 Total Assets Liabilities: Stockholders' equity Controlling interest A Total controlling interest 0 Total equity before reduction for treasury shares $ 0 Total stockholders' equity Total Liabilities and Stockholders' Equity $ OO