The following balance sheets have been prepared as at December 31, 2019, for Western Corp. and Mustangs Co. Ltd

1) Westem acquired its 40% incerest in Mustangs for $352,000 in 2015 , when Mustangs retalned earnings were $170,000 and common shares were $450,000. The acqulsition differential on that date was fully amortized by the end of 2019. 2) In 2018, Westem sold land to Mustangs and recorded a gain of 560,000 on the transaction. The land is stlll being used by Mustangs. 3) The December 31, 2019, inventory for Western contained a profit recoeded by Mustangs amounting to $35,000. 4) On December 31, 2019, Mustangs owes Westem $29,000. 5) Western has used the cost meshod to accouns for its investment in Mustangs. 6) Boch companies have a 40% incoene tax rate. Prepare the consolldated balance shext for Western as at December 31, 2019, in accordance with GAMP, assuming that the investment in Mustangs is a joins venture investment and is reported using proportionate consolidation. (pcoportiosately adjusted financial stavemenss) a) Calculate acquisition differential at acquisition date (3 marks) b) Summarize tnoercompany Eliminations and Gains/Losses (3 marks) c) Prepare a balance shees at December 31, 2019 (10 marks)