The summarized balance sheet of Separate Company on January 1, 20X3, contained the following amounts Total Assets $385,000 Total Liabilities $ 45,000 Preferred Stock Common Stock 115,000 65,000 Retained Earnings 160,000 Total Assets $385,000 Total Liabilities and Equities $385,000 On January 1, 20X3, Point Corporation acquired 90 percent of the common shares and 80 percent of the preferred shares of Separate Company at underlying book value. At that date, the fair value of the noncontrolling Interest in Separate's common stock was equal to 10 percent of the book value of its common stock. Required: Prepare the worksheet consolidation entries needed to prepare a consolidated balance sheet Immediately following Point's purchase of shares. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) view transaction B Consolidation Worksheet Entries A Record the basic consolidation entry. Note: Enter debits before credits Event 1 Accounts Debit Credit Record entry Clear entry view consolidation entries