The December 31, 20X8, balance sheets for Pint Corporation and its 70 percent-owned subsidiary Saloon Company contained the following summarized amounts:

PINT CORPORATION AND SALOON COMPANY
Balance Sheets December 31, 20X8
	Pint Corporation				Saloon Company
Assets
Cash & Receivables	$	98,000			$	40,000
Inventory		150,000				100,000
Buildings & Equipment (net)		310,000				280,000
Investment in Saloon Company		242,000
Total Assets	$	800,000			$	420,000
Liabilities & Equity
Accounts Payable	$	70,000			$	20,000
Common Stock		200,000				150,000
Retained Earnings		530,000				250,000
Total Liabilities & Equity	$	800,000			$	420,000

Pint acquired the shares of Saloon Company on January 1, 20X7. On December 31, 20X8, assume Pint sold inventory to Saloon during 20X8 for $100,000 and Saloon sold inventory to Pint for $300,000. Pints balance sheet contains inventory items purchased from Saloon for $95,000. The items cost Saloon $55,000 to produce. In addition, Saloons inventory contains goods it purchased from Pint for $25,000 that Pint had produced for $15,000. Assume Saloon reported net income of $70,000 and dividends of $14,000.

b. Prepare a consolidated balance sheet worksheet as of December 31, 20X8.

PINT CORPORATION &SUBSIDIARY Consolidated Balance Sheet Worksheet December 31, 20X8 Consolidation Entries Pint Saloon DR CR Consolidated Corporation Company Assets Cash and receivables Inventory Buildings & equipment (net) Investment in Saloon Company Total Assets Liabilities & Equity Accounts payable Common stock Retained earnings NCI in NA of Saloon Company Total Liabilities & Equity