Thank you!

223 Consolidated Worksheet at End of the First Year of Ownership (Equity Method) Paper Company acquired 100 percent of Scissor Company's outstanding common stock for $370,000 on January 1. 20X8, when the book value of Seissor's net assets was equal to $370,000. Paper uses the equity method to account for investments. Trial a. Prepare the journal entries on Paper's books for the acquisition of Scissor on January 1. 20X8, as well as any normal equity. method entry(ies) related to the investment in Scissor Company during 20X8. b. Prepare a consolidation worksheet for 20X8 in good form