The balance sheets of Kim Ltd. and Steinbach Co. on December 31, Year 2, just before the transaction described below, were as follows: On December 31, Year 2, Kim purchased 60% of Steinbach's outstanding common shares for $144,000 in cash. Coincidentally, the carrying amounts of Steinbach's assets and liabilities were equal to fair value. Required: (a) Prepare the journal entries, if any, for Kim Ltd. and for Steinbach Co. to record this transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) (b) Prepare balance sheets for Kim Ltd. and for Steinbach Co. at December 31, Year 2, after recording the transaction noted above. c) Prepare a consolidated balance sheet for Kim Ltd. after the transaction noted above