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On December 28, 20X3, Stern Corporation and Ram Company established S&R Pertnership, with cash contributions of $10,000 and $40,000, respectively. The partnership's purpose is to purchase from Stern accounts receivable that have on overage collection period of 80 days end hold them to collection. The partnership borrows cash from Midtown Bank end purchases the receivables without recourse but at an amount equal to the expected percent to be collected, less a financing fee of 3 percent of the gross receivables. Stern and Ram hold 20 percent end 80 percent of the ownership of the partnership, respectively, and Stern guarantees both the bank loan mede to the partnership end a IS percent annual return on the investment mede by Ram. Stern receives any income in excess of the IS percent return guaranteed to Ram. The partnership agreement provides Stern total control crier the partnership's activities. On December 31, 20X3, Stern sold of accounts receivable to the partnership. The partnership immediately borrowed from the bank ond paid Stern Prior to the sale, Stern had established e $400,000 allowance for uncollectibles on the receivables sold to the partnership. The balance sheets of Stern and S&R immediately after the sele of receivables to the 2413, a la,a gsa,a 7ea, a partnership contained the following: Cash Accounts Receivable Allowance for Uncollectible Accounts Other Assets Prepaid Finance Charges Investment in S&R Partnership Accounts Payable Deferred Revenue Bank Notes Payable Bonds Payable Comon Stock Retained Earnings Capital, Stern Corporation Capital, Ram Company Required: Stern Corporation Partner shib (21e,eea) 5,4ea, a 6, Isa,a S lg,e 8, eae,e (4%, eat) 24e,e 7, see,e 10, ee Assuming that Stern is S&R's primary beneficiary, prepare e consolidated balance sheet for Stern at January 1, 20X4_ Note: Amounts to be deducted should be indicated by a minus sign. Consolidated Balance Sheet Assets Total Assets Liabilities Stockholders' Equity: Controlling Interest: Total Controlling Interest Total Stockholders' Equity Total Liabilities and Stockholders' Equity