Talbott Company purchased 80 percent of Short Company's 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 Short's book value. On December 31, 20X9. Short purchased 10 percent of Talbott's stock. Balance sheets for the two companies on December 31, 20X9. are as follows: $ Cash Accounts Receivable Inventory Buildings & Equipment (net) Investment in Short Co. Total Assets TALBOTT COMPANY Condensed Balance Sheet December 31, 2009 5 84,000 Accounts Payable 66,000 Bonds Payable 149,000 Common Stock 380,000 Retained Earnings 432,000 $1,111,000 Total Liabilities & Equities 86,000 385,000 315.000 325 $1,111, Cash Accounts Receivable Inventory Buildings & Equipment (net) Investment in Talbott Co. Total Assets SHORT COMPANY Condensed Balance Sheet December 31, 20x9 5 41,000 Accounts Payable 134,000 Bonds Payable 129,000 Common Stock 330,000 Retained Earnings 64,000 $698,000 Total Liabilities & Equities $ 53,000 105,000 250,000 290,000 5698,800 Required: Assuming that the treasury stock method is used in reporting Talbott's 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 Similar romhin all credit antrina inte ens amount anc